I never got on board with this ZEC rally, but looking back now, I wouldn’t say I missed out.
On November 6, it surged to 1,388 intraday and closed at 1,323. The next day, it closed at 1,261—below the previous day’s opening price. Trading volume fell from 200,000 coins to 100,000; the volume pulled back first. It’s now around 1,265, down nearly 5% in 24 hours. A trading volume of $130 million is already pretty active in today’s market, since BTC and ETH are mostly just moving sideways.
The 50-day moving average at 1,306 is capping it from above, while the 20-day moving average at 1,250 is supporting it from below. The price is stuck in between, and it’ll have to break through one side or the other first. It’s still 25% below its 60-day high of 1,698.
I’m not afraid of it falling. I’m afraid it’s falling with such perfect rhythm that every dip looks like an opportunity—then you get in and realize someone else was using it to offload. The people who bought the top are probably still underwater.
$ZEC #ZEC #altcoins
On November 6, it surged to 1,388 intraday and closed at 1,323. The next day, it closed at 1,261—below the previous day’s opening price. Trading volume fell from 200,000 coins to 100,000; the volume pulled back first. It’s now around 1,265, down nearly 5% in 24 hours. A trading volume of $130 million is already pretty active in today’s market, since BTC and ETH are mostly just moving sideways.
The 50-day moving average at 1,306 is capping it from above, while the 20-day moving average at 1,250 is supporting it from below. The price is stuck in between, and it’ll have to break through one side or the other first. It’s still 25% below its 60-day high of 1,698.
I’m not afraid of it falling. I’m afraid it’s falling with such perfect rhythm that every dip looks like an opportunity—then you get in and realize someone else was using it to offload. The people who bought the top are probably still underwater.
$ZEC #ZEC #altcoins
