Price just hit a decade high, but momentum is starting to stall. 📣 big profit coming soon...
🔴 SHORT for $ZEC
🔊 Entry: 1,000 to 1,020
🛑 SL: 1,060
🎯 TP1: 950
🎯 TP2: 900
Zcash surged past $1,000 for the first time since 2018, hitting $1,023 on September 4. The rally was fueled by Grayscale's $ZEC spot ETF launch on August 25, which attracted over $34 million in net inflows, and a $34.5 million short squeeze that forced aggressive buybacks. But the daily RSI is now near 80 — firmly in overbought territory. Price is approaching the $1,050–$1,090 resistance zone, and with no clear target above that level, we're in price discovery mode. A pullback toward $950 and $900 is likely as the squeeze momentum fades.
Risk: A break above $1,060 would invalidate this short setup and suggest continuation to the upside.
Are you shorting this rejection or waiting for a breakdown?
Trade here 👇🏻$DASH
🔴 SHORT for $ZEC
🔊 Entry: 1,000 to 1,020
🛑 SL: 1,060
🎯 TP1: 950
🎯 TP2: 900
Zcash surged past $1,000 for the first time since 2018, hitting $1,023 on September 4. The rally was fueled by Grayscale's $ZEC spot ETF launch on August 25, which attracted over $34 million in net inflows, and a $34.5 million short squeeze that forced aggressive buybacks. But the daily RSI is now near 80 — firmly in overbought territory. Price is approaching the $1,050–$1,090 resistance zone, and with no clear target above that level, we're in price discovery mode. A pullback toward $950 and $900 is likely as the squeeze momentum fades.
Risk: A break above $1,060 would invalidate this short setup and suggest continuation to the upside.
Are you shorting this rejection or waiting for a breakdown?
Trade here 👇🏻$DASH
