$ZEC : Who still dares to short Zcash amid its fundamental developments?
If you’re still shorting Zcash, especially if you plan to hold your position long term, pay attention to the current market structure.
NU7 is now active and has increased Zcash’s target block speed, reducing block times from 75 seconds to 25 seconds. The network’s fundamentals are developing, while price action remains highly volatile.
ZEC reference price: $1,267.88.
The nearest support is at $1,216. If this level holds, ZEC still has a chance to retest resistance at $1,286, followed by $1,331 and then $1,405.
Fibonacci levels indicate a 0.382 retracement area around $1,224, 0.5 at $1,078, and 0.618 at $931.51. The $1,224 area is an important zone close to current support.
If ZEC can maintain its weekly structure and reclaim resistance, the potential for a recovery could increase. However, if support at $1,216 is broken, don’t overlook the risk of a deeper correction.
The market doesn’t always move as expected. Strong fundamentals don’t guarantee that the price will rise immediately.
In my view, the most important thing now is to watch how ZEC closes the weekly period and whether buyers can hold the support area.
If you’re still shorting Zcash, especially if you plan to hold your position long term, pay attention to the current market structure.
NU7 is now active and has increased Zcash’s target block speed, reducing block times from 75 seconds to 25 seconds. The network’s fundamentals are developing, while price action remains highly volatile.
ZEC reference price: $1,267.88.
The nearest support is at $1,216. If this level holds, ZEC still has a chance to retest resistance at $1,286, followed by $1,331 and then $1,405.
Fibonacci levels indicate a 0.382 retracement area around $1,224, 0.5 at $1,078, and 0.618 at $931.51. The $1,224 area is an important zone close to current support.
If ZEC can maintain its weekly structure and reclaim resistance, the potential for a recovery could increase. However, if support at $1,216 is broken, don’t overlook the risk of a deeper correction.
The market doesn’t always move as expected. Strong fundamentals don’t guarantee that the price will rise immediately.
In my view, the most important thing now is to watch how ZEC closes the weekly period and whether buyers can hold the support area.