ZEC Bearish. Enter around 1200. Target: around 1050. Place stop-loss at 1265.
In the short term, ZEC is unlikely to break above the previous high of 1297. Earlier institutions heavily increased their holdings, pushing the price up. Especially now that expectations of interest-rate hikes are gradually rising, funds are not talking about escaping to avoid risk; at the very least, there isn’t significant capital continuing to accumulate.
As a privacy sector, I personally remain bullish in the long term. But after pushing this high in the short term, there will definitely be a solid pullback.
$ZEC
In the short term, ZEC is unlikely to break above the previous high of 1297. Earlier institutions heavily increased their holdings, pushing the price up. Especially now that expectations of interest-rate hikes are gradually rising, funds are not talking about escaping to avoid risk; at the very least, there isn’t significant capital continuing to accumulate.
As a privacy sector, I personally remain bullish in the long term. But after pushing this high in the short term, there will definitely be a solid pullback.
$ZEC
