At the early-morning market open, the privacy-sector leader, $ZEC , suddenly saw a surge in volume and jumped sharply. Its intraday high reached 1388 USDT, with a 24-hour gain of about 21.36%. It has now slightly pulled back to around 1367 USDT.
Such sharp rallies are often accompanied by short-covering and rotation of capital within the sector. However, whether prices can truly hold above the highs depends on whether trading volume can continue and whether overall market sentiment is supportive. Privacy coins have historically been quite volatile; for chasing gains in the short term, you need tighter position sizing and to watch for the risk of rapid pullbacks.
#Zcash #Market Watch
Such sharp rallies are often accompanied by short-covering and rotation of capital within the sector. However, whether prices can truly hold above the highs depends on whether trading volume can continue and whether overall market sentiment is supportive. Privacy coins have historically been quite volatile; for chasing gains in the short term, you need tighter position sizing and to watch for the risk of rapid pullbacks.
#Zcash #Market Watch