$ZEC 2400 ten-thousand dollars in an hour—that’s a figure you could brag about all day under normal circumstances. But the price only moved 0.51%. Trading volume was 1.1 times the 24-hour hourly average. Volume didn’t explode, and the price barely moved; both sides were subdued.
What really stands out is that it’s only $10 away from 1,075. It plunged 11.4% in 24 hours, with 247M in volume—that looks like panic selling. But it’s down just 2.51% over the past 4 hours, so the decline has clearly lost momentum. Losing momentum doesn’t mean it’s found a bottom; it just means nobody wants to keep selling at this price.
Here’s what I’m wondering: of that 247M in volume, how much was trading hands near the lows, and how much came from stop-loss orders getting swept? If it’s the latter, a break below 1,075 could happen fast.
#ZEC #BinanceSquare #Crypto
What really stands out is that it’s only $10 away from 1,075. It plunged 11.4% in 24 hours, with 247M in volume—that looks like panic selling. But it’s down just 2.51% over the past 4 hours, so the decline has clearly lost momentum. Losing momentum doesn’t mean it’s found a bottom; it just means nobody wants to keep selling at this price.
Here’s what I’m wondering: of that 247M in volume, how much was trading hands near the lows, and how much came from stop-loss orders getting swept? If it’s the latter, a break below 1,075 could happen fast.
#ZEC #BinanceSquare #Crypto