$ZEC is up nearly five percent but still feels dull; 1385 is holding down 1276, watching for now
Current price $1,377 (24h +4.90%)
Who’s feeling bad about today’s ZEC move?
Those who chased above 1380 this morning are probably a bit annoyed. It was pushed back as soon as it broke up, and the current price is fluctuating around 1377.
It’s true that it’s up nearly five percent, but the 1385 level above has been tested several times without breaking through. The daily moving averages are still overhead, and the four-hour chart is still lined up bearishly. In the short term, it’s just lukewarm.
There is one fairly direct piece of news: mining firm Fortitude said it plans to invest up to $100 million in equipment to expand Zcash mining.
But the market didn’t react much. Funding rates are still slightly negative, giving bears a slight edge, and open interest is only so-so. Everyone is in no hurry to put money in.
Next, watch two levels: if it truly pulls back to around 1276, see how much support that area provides;
If it can break above 1385 with volume, then today’s bullish candle will finally have some meaning.
Otherwise, today’s candle will just keep grinding like this, without even firmly taking out the 1385 hurdle.
#ZEC #加密货币 #币圈日常
Current price $1,377 (24h +4.90%)
Who’s feeling bad about today’s ZEC move?
Those who chased above 1380 this morning are probably a bit annoyed. It was pushed back as soon as it broke up, and the current price is fluctuating around 1377.
It’s true that it’s up nearly five percent, but the 1385 level above has been tested several times without breaking through. The daily moving averages are still overhead, and the four-hour chart is still lined up bearishly. In the short term, it’s just lukewarm.
There is one fairly direct piece of news: mining firm Fortitude said it plans to invest up to $100 million in equipment to expand Zcash mining.
But the market didn’t react much. Funding rates are still slightly negative, giving bears a slight edge, and open interest is only so-so. Everyone is in no hurry to put money in.
Next, watch two levels: if it truly pulls back to around 1276, see how much support that area provides;
If it can break above 1385 with volume, then today’s bullish candle will finally have some meaning.
Otherwise, today’s candle will just keep grinding like this, without even firmly taking out the 1385 hurdle.
#ZEC #加密货币 #币圈日常