$ZEC / The day after the upgrade, 1385 was tested twice but couldn't hold
Yesterday, the day NU7 was activated,
ZEC hit an intraday high of 1385
and closed at 1321—a pretty big move
It happened again today
Opening at 1321, it reached a high of 1362
Now it's hovering around 1292, giving back its gains again
This morning, it was still the biggest gainer among the large-cap coins
By evening, most of that momentum had faded
Put simply, the upgrade news was mostly priced in on day one
The 1340 resistance zone has been breached twice in two days
Neither time did it hold, so it looks a lot like a false breakout
I'll say it again: I'm just watching, not calling trades
Chasing ZEC at this level is basically providing an exit for those who bought high yesterday
To the downside, watch 1284, today's low
Then 1246, yesterday's low
To the upside, first 1362, then 1385
Let's talk about anything else only after it holds above 1385; if it can't, expect more sideways trading
Just my personal opinion, not investment advice
#Zcash
Yesterday, the day NU7 was activated,
ZEC hit an intraday high of 1385
and closed at 1321—a pretty big move
It happened again today
Opening at 1321, it reached a high of 1362
Now it's hovering around 1292, giving back its gains again
This morning, it was still the biggest gainer among the large-cap coins
By evening, most of that momentum had faded
Put simply, the upgrade news was mostly priced in on day one
The 1340 resistance zone has been breached twice in two days
Neither time did it hold, so it looks a lot like a false breakout
I'll say it again: I'm just watching, not calling trades
Chasing ZEC at this level is basically providing an exit for those who bought high yesterday
To the downside, watch 1284, today's low
Then 1246, yesterday's low
To the upside, first 1362, then 1385
Let's talk about anything else only after it holds above 1385; if it can't, expect more sideways trading
Just my personal opinion, not investment advice
#Zcash
