$ZEC IS RISING AGAIN. THE START OF A NEW RALLY
Zcash has caught traders’ attention again: the price bounced sharply from recent lows, and interest in exchange-traded products on $ZEC has returned after a period of outflows.
But I wouldn’t rush to call it a reversal. One strong day doesn’t mean sellers have left the market. After a sharp move, the price could easily turn back down.
What I’d be watching:
— whether the price holds above the recent bounce zone;
— whether money continues to flow into investment products;
— whether the rise is backed by volume, not just hype.
If these signals align, there will be more reason to expect the move to continue. If not, the rally could end quickly.
#ZEC #Zcash #Crypto #Altcoins
Zcash has caught traders’ attention again: the price bounced sharply from recent lows, and interest in exchange-traded products on $ZEC has returned after a period of outflows.
But I wouldn’t rush to call it a reversal. One strong day doesn’t mean sellers have left the market. After a sharp move, the price could easily turn back down.
What I’d be watching:
— whether the price holds above the recent bounce zone;
— whether money continues to flow into investment products;
— whether the rise is backed by volume, not just hype.
If these signals align, there will be more reason to expect the move to continue. If not, the rally could end quickly.
#ZEC #Zcash #Crypto #Altcoins