Quantum-resistant upgrade? 70% of the supply weighs overhead—could $ZEC see a sea change?
Guys, the period before bullish news breaks is often when shakeouts are most brutal. Don’t get carried away the moment you see a headline!
On the news front, ZEC plans to introduce quantum-resistant signatures next January, but 70% of the supply is still in the transparent pool, creating significant selling-pressure risk.
Technically, ZEC plunged from 1393 to 1112 before sharply rebounding. It’s now at 1220. The upper Bollinger Band at 1236 is acting as firm resistance, while the middle band at 1218 is the line in the sand. The MACD has formed a bullish cross below zero, but momentum is weak. RSI is neutral.
Trading strategy:
For a more conservative approach, wait for a pullback near 1200 before going long;
If you’re afraid of missing out, you can open a small long position near the current price of 1220 and add on a pullback.
My view: Expect choppy trading and shakeouts in the short term. The talk of short liquidations above is wishful thinking; a large number of long positions are clustered below, so a downward stop-loss sweep is highly likely. But quantum resistance is a strong long-term narrative, so I’m not bearish in the medium term. Follow Gongming—stay in the game, and you can still make the big gains! #Zcash计划1月支持抗量子签名
Guys, the period before bullish news breaks is often when shakeouts are most brutal. Don’t get carried away the moment you see a headline!
On the news front, ZEC plans to introduce quantum-resistant signatures next January, but 70% of the supply is still in the transparent pool, creating significant selling-pressure risk.
Technically, ZEC plunged from 1393 to 1112 before sharply rebounding. It’s now at 1220. The upper Bollinger Band at 1236 is acting as firm resistance, while the middle band at 1218 is the line in the sand. The MACD has formed a bullish cross below zero, but momentum is weak. RSI is neutral.
Trading strategy:
For a more conservative approach, wait for a pullback near 1200 before going long;
If you’re afraid of missing out, you can open a small long position near the current price of 1220 and add on a pullback.
My view: Expect choppy trading and shakeouts in the short term. The talk of short liquidations above is wishful thinking; a large number of long positions are clustered below, so a downward stop-loss sweep is highly likely. But quantum resistance is a strong long-term narrative, so I’m not bearish in the medium term. Follow Gongming—stay in the game, and you can still make the big gains! #Zcash计划1月支持抗量子签名