Down 2.22%, and I actually feel like $ZEC isn't that scary anymore. Here's why. It's trading at 1,236.7, with 24-hour trading volume still at 129.5M, ranking fourth across the entire market.
To put it simply: the price is falling, but volume hasn't shrunk. That means people are still in the market—it's not that there are no buyers; sellers are making their presence felt through trading volume. A high-volume drop is more unsettling than a slow bleed, because you don't know when the selling will finally be over.
If I were holding it, I'd sit tight for now—not because I can predict what will happen, but because I genuinely can't tell where the bottom is with this price-volume relationship. But if it can get back above 1,290.0, I'd have to rethink things. If it falls below 1,180.0, I'd expect it to drop further.
With 129.5M in trading volume, yet the price is still falling, do you think someone is dumping, or is this just a changing of hands?
$ZEC
#ZEC #MarketAnalysis
To put it simply: the price is falling, but volume hasn't shrunk. That means people are still in the market—it's not that there are no buyers; sellers are making their presence felt through trading volume. A high-volume drop is more unsettling than a slow bleed, because you don't know when the selling will finally be over.
If I were holding it, I'd sit tight for now—not because I can predict what will happen, but because I genuinely can't tell where the bottom is with this price-volume relationship. But if it can get back above 1,290.0, I'd have to rethink things. If it falls below 1,180.0, I'd expect it to drop further.
With 129.5M in trading volume, yet the price is still falling, do you think someone is dumping, or is this just a changing of hands?
$ZEC
#ZEC #MarketAnalysis