$ZEC
This guy is a bit tough...
788 was pushed to 842, current price is 824, and trading volume is 39.84 million.
With 39.84 million, on ZEC it isn’t small, but it’s nowhere near the level of an all-out squeeze and minced-meat run. The price dropping from 842 back to 811 suggests there’s selling pressure overhead, but there wasn’t panic of heavy volume dumping. More likely, speculators pumped it once, and some profit-takers pulled out first, so the price naturally retraced.
I was previously worried that longs and shorts would go crazy trading blow for blow, but now it doesn’t look that extreme. With this kind of volume,
$ZEC
it can still hold steady above 800, which suggests the selling pressure is limited—maybe even a bit of a “can’t really be pushed down” vibe. But to say it’s truly resilient is still early—volume hasn’t caught up, and breaking above 842 will be hard.
My strategy stays the same: in this kind of awkward, neither-up-nor-down position, I’ll wait for it to give a clearer direction, more reliably. Support to watch is 795–800, resistance is 835–842. I’ll keep watching, and I’ll keep holding my ZEC position.
This guy is a bit tough...
788 was pushed to 842, current price is 824, and trading volume is 39.84 million.
With 39.84 million, on ZEC it isn’t small, but it’s nowhere near the level of an all-out squeeze and minced-meat run. The price dropping from 842 back to 811 suggests there’s selling pressure overhead, but there wasn’t panic of heavy volume dumping. More likely, speculators pumped it once, and some profit-takers pulled out first, so the price naturally retraced.
I was previously worried that longs and shorts would go crazy trading blow for blow, but now it doesn’t look that extreme. With this kind of volume,
$ZEC
it can still hold steady above 800, which suggests the selling pressure is limited—maybe even a bit of a “can’t really be pushed down” vibe. But to say it’s truly resilient is still early—volume hasn’t caught up, and breaking above 842 will be hard.
My strategy stays the same: in this kind of awkward, neither-up-nor-down position, I’ll wait for it to give a clearer direction, more reliably. Support to watch is 795–800, resistance is 835–842. I’ll keep watching, and I’ll keep holding my ZEC position.
