A price drop below the range followed by a recovery back into it is often seen as buying support. However, when the share of aggressive buying is low, the activity is more likely passive matching than buyers actively stepping in.
Spot $ZEC dipped below the four-hour reference low of $1,188 intraday, then rebounded and closed back within the range.
During this period, trading volume rose to nearly twice its previous average, but aggressive market buying accounted for only about 30% of intraday activity.
This suggests that buyers were not actively chasing the price. The rebound after the dip was more likely due to a temporary easing of selling pressure. After returning to the range, it will still take time for supply and demand to establish a new equilibrium.
Spot $ZEC dipped below the four-hour reference low of $1,188 intraday, then rebounded and closed back within the range.
During this period, trading volume rose to nearly twice its previous average, but aggressive market buying accounted for only about 30% of intraday activity.
This suggests that buyers were not actively chasing the price. The rebound after the dip was more likely due to a temporary easing of selling pressure. After returning to the range, it will still take time for supply and demand to establish a new equilibrium.