Both are privacy coins, but they’ve gone in completely different directions this week.
The broader market’s Fear & Greed Index is at 28 (Fear), and most coins are down. $XMR , however, is up about 4% over the past 24 hours and is now around $582;
by contrast, $ZEC is down 4% over 24 hours and nearly 27% over 7 days, with its price already below $1,000 (around $994).
My take:
ZEC surged too hard earlier, and this move is giving back some of those gains as profit-takers cash out. XMR hasn’t been hyped much, so its holders are relatively steadfast, making it more resilient in a down market.
But don’t take this as a signal that “XMR is about to take off.” Coins that rise against the trend in a weak market can easily fall to catch up if the broader market drops again. I’m more focused on whether ZEC can hold the $1,000 psychological level. Only if it does will it be worth discussing an oversold rebound.
Which privacy coin do you favor—or are you staying away from both?
(Personal opinion, not investment advice)
The broader market’s Fear & Greed Index is at 28 (Fear), and most coins are down. $XMR , however, is up about 4% over the past 24 hours and is now around $582;
by contrast, $ZEC is down 4% over 24 hours and nearly 27% over 7 days, with its price already below $1,000 (around $994).
My take:
ZEC surged too hard earlier, and this move is giving back some of those gains as profit-takers cash out. XMR hasn’t been hyped much, so its holders are relatively steadfast, making it more resilient in a down market.
But don’t take this as a signal that “XMR is about to take off.” Coins that rise against the trend in a weak market can easily fall to catch up if the broader market drops again. I’m more focused on whether ZEC can hold the $1,000 psychological level. Only if it does will it be worth discussing an oversold rebound.
Which privacy coin do you favor—or are you staying away from both?
(Personal opinion, not investment advice)