After scanning the futures market, $ZEC is worth keeping an eye on today.
24h: +8.3%; trading volume: $1.42B. But open interest actually fell 0.9%, and the funding rate is just +0.003%. The price is rising without leverage following suit, so this move looks more like short covering plus spot buying than aggressive piling into long positions on futures. The positioning looks relatively clean.
4H chart: Price rebounded from around 1050 to 1224, reclaiming the EMA20/50 (1150/1175). RSI at 60 isn’t overbought. The 24h high of 1229.9 sits just below the daily EMA20 at 1231; clearing that level would put the previous high of 1285 in sight.
My take: Wait for it to hold above 1231 before joining in. A pullback to 1175–1200 would be a more comfortable entry. A drop below 1150 invalidates the short-term thesis. Don’t chase—wait for confirmation. This is not investment advice.
24h: +8.3%; trading volume: $1.42B. But open interest actually fell 0.9%, and the funding rate is just +0.003%. The price is rising without leverage following suit, so this move looks more like short covering plus spot buying than aggressive piling into long positions on futures. The positioning looks relatively clean.
4H chart: Price rebounded from around 1050 to 1224, reclaiming the EMA20/50 (1150/1175). RSI at 60 isn’t overbought. The 24h high of 1229.9 sits just below the daily EMA20 at 1231; clearing that level would put the previous high of 1285 in sight.
My take: Wait for it to hold above 1231 before joining in. A pullback to 1175–1200 would be a more comfortable entry. A drop below 1150 invalidates the short-term thesis. Don’t chase—wait for confirmation. This is not investment advice.