#Zcash falls below $1,000 for the first time since September
After climbing from a few dozen bucks to above $1,000, the privacy coin’s incredible run came crashing down today—$ZEC fell below $1,000 for the first time since September. A 3.5% drop over 24 hours may not look like much, but the pullback from its peak is already substantial. Those who bought in near the top are probably tallying their losses now.
The Fear & Greed Index is only at 26, and the market is already feeling timid. A coin like ZEC, which can double on the way up and fall just as sharply, is extremely volatile, so proceed with caution. The key $1,000 level has been lost. Next, we’ll see whether it can reclaim it; if not, it may have to look for support lower down.
After climbing from a few dozen bucks to above $1,000, the privacy coin’s incredible run came crashing down today—$ZEC fell below $1,000 for the first time since September. A 3.5% drop over 24 hours may not look like much, but the pullback from its peak is already substantial. Those who bought in near the top are probably tallying their losses now.
The Fear & Greed Index is only at 26, and the market is already feeling timid. A coin like ZEC, which can double on the way up and fall just as sharply, is extremely volatile, so proceed with caution. The key $1,000 level has been lost. Next, we’ll see whether it can reclaim it; if not, it may have to look for support lower down.