$ZEC Lots of good news, but the price isn’t moving. Don’t rush in—wait and see how this plays out.
There’s been plenty of buzz around ZEC lately: a new ETF is here, potentially opening the door to institutional access; expectations for the NU7 upgrade are building; and outflows from ZCSH have slowed, easing some of the selling pressure. The cards look good, but what about the price? It hasn’t taken off—it’s just been stuck between 1,300 and 1,370, with neither bulls nor bears giving an inch.
Why hasn’t the price risen on all this good news? Simply put, it surged too hard earlier, and profit-takers are waiting up high to cash out. When prices rise, everyone shouts “to the moon”; once they’re near the top, they rush for the exit. That’s human nature.
The chart is simple right now:
Below, 1,270–1,300: if this support holds, the bullish structure remains intact.
Above, 1,370–1,410: 1,410 in particular is a tough nut to crack. Don’t talk about a breakout until it gets through.
If you’re unsure which way things are headed, come discuss it with us at Jucai Zhuang!!!!#Winklevoss向美国SEC提交现货ZcashETF申请
There’s been plenty of buzz around ZEC lately: a new ETF is here, potentially opening the door to institutional access; expectations for the NU7 upgrade are building; and outflows from ZCSH have slowed, easing some of the selling pressure. The cards look good, but what about the price? It hasn’t taken off—it’s just been stuck between 1,300 and 1,370, with neither bulls nor bears giving an inch.
Why hasn’t the price risen on all this good news? Simply put, it surged too hard earlier, and profit-takers are waiting up high to cash out. When prices rise, everyone shouts “to the moon”; once they’re near the top, they rush for the exit. That’s human nature.
The chart is simple right now:
Below, 1,270–1,300: if this support holds, the bullish structure remains intact.
Above, 1,370–1,410: 1,410 in particular is a tough nut to crack. Don’t talk about a breakout until it gets through.
If you’re unsure which way things are headed, come discuss it with us at Jucai Zhuang!!!!#Winklevoss向美国SEC提交现货ZcashETF申请