$ZEC In the past 24 hours, prices have risen nearly 10%; open interest value has increased by about 12.5% as well, indicating that this round of market action isn’t just about price—leveraged capital has also moved in.
Interestingly, during the recent 4-hour pullback, open positions actually fell by about 2.8%; it looks more like profit-taking that got out first rather than aggressive short-selling adding heavily. However, in the latest 15 minutes, the ratio of active buy to sell is only 0.76, and sellers still hold the upper hand right now.
For the short term, look for 545—565. Only after reclaiming 565 will there be a chance for a second push toward 581. If 545 is broken, it’s likely to return to the 535 area to clear the remaining leverage.
Interestingly, during the recent 4-hour pullback, open positions actually fell by about 2.8%; it looks more like profit-taking that got out first rather than aggressive short-selling adding heavily. However, in the latest 15 minutes, the ratio of active buy to sell is only 0.76, and sellers still hold the upper hand right now.
For the short term, look for 545—565. Only after reclaiming 565 will there be a chance for a second push toward 581. If 545 is broken, it’s likely to return to the 535 area to clear the remaining leverage.