🔴 New update: $ZEC ’s decline accelerates below $900
$ZEC continued to bleed, trading near $884, down about 5.46% over 24 hours, while reports indicate a loss of nearly 30% over a week.
📉 Key drivers of the current pressure:
• Grayscale’s Zcash fund recorded its third consecutive day of outflows, with nearly $4.06 million exiting in the latest session.
• Long positions worth about $810,000 were liquidated in a single hour, while short liquidations remained very limited.
• A vote on the Zcash development fund is approaching, starting November 16, increasing uncertainty around project funding.
• Risk appetite has weakened across the broader crypto market, putting additional pressure on altcoins.
⚠️ Technically: Breaking below the $900–902 zone further weakens the outlook. Holding below it could push the price to test $887, then $824. A move back above $931–950 would be the first sign of an attempt to stabilize, while reclaiming $1,000 is necessary to clearly ease the downward pressure.
Bottom line:
The short-term trend remains bearish, and current rebounds may be corrective unless demand returns strongly. This does not mean that #zec will inevitably continue to fall, but fund outflows, liquidations, and the support breakdown make caution a priority.
For informational purposes only, not investment advice.
$ZEC continued to bleed, trading near $884, down about 5.46% over 24 hours, while reports indicate a loss of nearly 30% over a week.
📉 Key drivers of the current pressure:
• Grayscale’s Zcash fund recorded its third consecutive day of outflows, with nearly $4.06 million exiting in the latest session.
• Long positions worth about $810,000 were liquidated in a single hour, while short liquidations remained very limited.
• A vote on the Zcash development fund is approaching, starting November 16, increasing uncertainty around project funding.
• Risk appetite has weakened across the broader crypto market, putting additional pressure on altcoins.
⚠️ Technically: Breaking below the $900–902 zone further weakens the outlook. Holding below it could push the price to test $887, then $824. A move back above $931–950 would be the first sign of an attempt to stabilize, while reclaiming $1,000 is necessary to clearly ease the downward pressure.
Bottom line:
The short-term trend remains bearish, and current rebounds may be corrective unless demand returns strongly. This does not mean that #zec will inevitably continue to fall, but fund outflows, liquidations, and the support breakdown make caution a priority.
For informational purposes only, not investment advice.
