$ZEC cools off after tagging $888 — but the bigger trend is still intact
Zoom out on Zcash's chart and the story writes itself: sideways chop around $450-500 for most of early August, then a vertical breakout that took it all the way to $888 — an eight-year high — before sellers stepped in.
That top wasn't random. It landed right as Grayscale's spot Zcash ETF (ZCSH) officially began trading on NYSE Arca. Classic "sell the news" behavior after a run that hot — ZEC's RSI had pushed into the high-80s, about as overbought as this market gets.
Now price is consolidating around $813, roughly 8% off the high. The move isn't a breakdown, it's digestion. The zone to watch is $780-$800 — if that holds as support,
$ZEC has room to attempt another leg toward $880-900. Lose it, and the next real test is closer to $716.
Bottom line: the ETF catalyst already fired, so this stretch is about whether spot demand and the new institutional access can hold the gains — not chase another vertical candle.
Patience over FOMO here.
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