The worst part isn’t the market falling—it’s the market falling while something else is rising. $ZEC surged 4.53% in an hour to 1,378.1, and is already up 7.52% over 24 hours.
The whole market is still gripped by fear, but $ZEC is charging upward all by itself. Anyone holding it right now is probably both thrilled and nervous: thrilled that it’s rising against the trend, nervous because 1,388.0 is right overhead. If it hits that level and can’t hold, anyone who chased in will be left holding the bag.
I’m inclined to sit tight and watch for now, because this kind of countertrend surge really tests whether buyers can keep it going. If it can’t break through 1,388.0, this could all be over in a day. But if it does manage to hold above 1,388.0, I’ll change my mind immediately—that would mean this isn’t just a bunch of retail traders rushing in blindly.
With it up at 1,378, who’s more nervous: people holding $ZEC , or those who haven’t bought in?
#ZEC #Market Analysis
The whole market is still gripped by fear, but $ZEC is charging upward all by itself. Anyone holding it right now is probably both thrilled and nervous: thrilled that it’s rising against the trend, nervous because 1,388.0 is right overhead. If it hits that level and can’t hold, anyone who chased in will be left holding the bag.
I’m inclined to sit tight and watch for now, because this kind of countertrend surge really tests whether buyers can keep it going. If it can’t break through 1,388.0, this could all be over in a day. But if it does manage to hold above 1,388.0, I’ll change my mind immediately—that would mean this isn’t just a bunch of retail traders rushing in blindly.
With it up at 1,378, who’s more nervous: people holding $ZEC , or those who haven’t bought in?
#ZEC #Market Analysis