$ZEC is trading at 1,145.36 (-5.82%) after setting new lows. Price is below the EMA(21), EMA(50) and Supertrend on the 1-hour and 4-hour charts; the 1-hour RSI(6) is 25.56. Support is at the low of 1,120.03.
Background: On the evening of November 8, crypto liquidations exceeded $1 billion, and BTC fell below 75,000. US CPI data is due on November 10. The NU7 upgrade on the Zcash network went live around November 5–6. On November 3, according to Blockmedia, ZEC fell 9% amid a weak market, profit-taking and a dispute over the development fund.
Binance data:
Spot: 24-hour volume of 138,249 ZEC (about $163 million). Net outflow of 5,722 ZEC (about $6.6 million); large orders: 41,557 ZEC in buys versus 51,596 ZEC in sells (-10,039 ZEC, about $11.5 million); medium orders: +2,042 ZEC. Over 5 days: +3,781 ZEC.
Futures: open interest 523.1 → 518.8 million $ (about -0.8%). Long/short ratio by positions: 1.30; top traders by accounts: 1.33 — a slight long bias. Funding rate: +0.0049%, below the 0.01% baseline.
1h: below EMA(21) 1,168.03, EMA(50) 1,199.55, EMA(200) 1,242.68, Supertrend 1,195.13.
4h: below EMA(21) 1,216.78, EMA(50) 1,239.96, EMA(200) 1,243.34, Supertrend 1,262.56.
1d: below EMA(21) 1,231.72 and EMA(50) 1,213.93, above EMA(200) 872.23, RSI(6) 33.18.
🔴 If 1,135 fails to hold, there is a risk of a move to 1,120, then 1,094.
🟢 If the price holds above the 1h EMA(21) at 1,168, a rebound to 1,195–1,200 is possible.
My position: a short may be possible
ZEC: will 1,120 hold, or are we heading to 1,090?
