ZEC perpetual market: +8.3% over 24h, with $1.42 billion in trading volume, but OI is down 0.9% and the funding rate is +0.003%—the rally doesn’t look driven by leverage piling in. On the 4H chart, price has reclaimed EMA20/50. 1231 is a key hurdle at the daily EMA20; above that, watch 1285. A break below 1150 would weaken the short-term outlook. $ZECUSDT #ZECUSDT