$ZEC broke the key support, and it changes the whole picture. Let’s break down what’s happening and where to look for an entry point.👇
· Indicators: RSI has fallen to 53.41 (the neutral zone), and MACD on the 4-hour chart shows a bearish crossover — buyers are losing momentum.
🐋 Why this is happening
· Narrative shift: Institutional investors have shifted their focus to ETFs. Grayscale carried out a 3-for-1 stock split to improve accessibility, while 21Shares launched an ETP in Europe — this draws capital away from the spot market.
· Caution from whales: A major player withdrew 2,640 ZEC from Binance (~$3.7 million). This isn’t panic, but rather hedging risk amid uncertainty.
· Support zone: $1,390–$1,410 (recent low and EMA). To confirm a reversal, you need to hold above $1,410.
· Long-term: Grayscale confirmed it believes ZEC’s potential hasn’t been exhausted yet, and the developers’ goal is the activation of NU7 on November 5. This keeps the fundamental backdrop positive.
#ZEC #Zcash
· Indicators: RSI has fallen to 53.41 (the neutral zone), and MACD on the 4-hour chart shows a bearish crossover — buyers are losing momentum.
🐋 Why this is happening
· Narrative shift: Institutional investors have shifted their focus to ETFs. Grayscale carried out a 3-for-1 stock split to improve accessibility, while 21Shares launched an ETP in Europe — this draws capital away from the spot market.
· Caution from whales: A major player withdrew 2,640 ZEC from Binance (~$3.7 million). This isn’t panic, but rather hedging risk amid uncertainty.
· Support zone: $1,390–$1,410 (recent low and EMA). To confirm a reversal, you need to hold above $1,410.
· Long-term: Grayscale confirmed it believes ZEC’s potential hasn’t been exhausted yet, and the developers’ goal is the activation of NU7 on November 5. This keeps the fundamental backdrop positive.
#ZEC #Zcash