#zec 's recent trend has been very strong, breaking out of its previous long-term consolidation range and rising steadily. As of now, the ZEC price has reached around $1,187, up about 17% over the past 24 hours, clearly surpassing the earlier high in August.
During this rally, the price once surged to around $887, then saw some profit-taking, but quickly found buying support near $750, indicating that market sentiment remains strongly bullish.
At present, the key level to watch is $1,100. As long as ZEC can hold above this level, the bulls still have the upper hand, and there is a chance to challenge $1,220 again or even higher. If it falls below $1,100, a more pronounced pullback may occur, with $890 as the first level to watch; if even $890 fails to hold, the market could retreat further toward $750.
It is worth noting that ZEC's recent futures leverage has increased significantly, with open interest approaching $2.7 billion, indicating that many traders are using leverage to go long. While this can drive prices higher, if the trend reverses, it may also amplify the downside.
During this rally, the price once surged to around $887, then saw some profit-taking, but quickly found buying support near $750, indicating that market sentiment remains strongly bullish.
At present, the key level to watch is $1,100. As long as ZEC can hold above this level, the bulls still have the upper hand, and there is a chance to challenge $1,220 again or even higher. If it falls below $1,100, a more pronounced pullback may occur, with $890 as the first level to watch; if even $890 fails to hold, the market could retreat further toward $750.
It is worth noting that ZEC's recent futures leverage has increased significantly, with open interest approaching $2.7 billion, indicating that many traders are using leverage to go long. While this can drive prices higher, if the trend reverses, it may also amplify the downside.
