📉 The Grayscale Zcash ETF (#ZCSH ) continues to face outflows! Last week, it saw net outflows of $30.72 million. Although that was significantly lower than the $93.56 million outflow the week before, redemptions totaled as much as $124 million over the two weeks. The outflows came after the fund’s 1-for-3 stock split, but there is currently no evidence of a direct link between the two.
As for the market, #zec is currently trading above $1,320 and holding above its short-term moving averages. The RSI and MACD are showing positive signs, with bulls eyeing $1,422. But risks remain: if the price comes under pressure and pulls back, $1,050 is a key support level. Ongoing ETF redemptions are also casting a shadow over this rally, and it remains to be seen whether the rebound can continue.
As for the market, #zec is currently trading above $1,320 and holding above its short-term moving averages. The RSI and MACD are showing positive signs, with bulls eyeing $1,422. But risks remain: if the price comes under pressure and pulls back, $1,050 is a key support level. Ongoing ETF redemptions are also casting a shadow over this rally, and it remains to be seen whether the rebound can continue.