$ZEC is the top gainer among coins with over 50M USDT in daily volume, up about 11% in 24 hours.
- Oct 18 low: 1,049, the lowest in 30 days
- Oct 20: closed 1,257.2, +9.1% on the day
- Today's high: 1,296.5
- Now: 1,267, about 21% off the low
- 24h volume: 214M USDT
- Funding: -0.004%
- Open interest: about 470,900 ZEC on the perp
Even after this bounce, ZEC is about 22% under its Sep 22 close of 1,630. The Sep 26 high was 1,698.
The part I watch is funding. It's still negative after a 21% bounce, so shorts haven't given up. If price keeps rising, they keep paying or they cover.
Levels: 1,349.3, the Oct 12 high, is the next wall. Back under 1,150 and the bounce is gone.
NFA. Short squeeze with more room, or a dead-cat bounce into 1,349?
- Oct 18 low: 1,049, the lowest in 30 days
- Oct 20: closed 1,257.2, +9.1% on the day
- Today's high: 1,296.5
- Now: 1,267, about 21% off the low
- 24h volume: 214M USDT
- Funding: -0.004%
- Open interest: about 470,900 ZEC on the perp
Even after this bounce, ZEC is about 22% under its Sep 22 close of 1,630. The Sep 26 high was 1,698.
The part I watch is funding. It's still negative after a 21% bounce, so shorts haven't given up. If price keeps rising, they keep paying or they cover.
Levels: 1,349.3, the Oct 12 high, is the next wall. Back under 1,150 and the bounce is gone.
NFA. Short squeeze with more room, or a dead-cat bounce into 1,349?