đšZEC Rallies Toward $1,800 on Paradigm Backing and Short Squeeze $APM
Zcash (ZEC) jumped 10% to around $1,500, fueled by Paradigm co-founder Matt Huang's public endorsement of the coin as a "private complement to Bitcoin." A massive short squeeze added fuel, with one major whale facing roughly $30 million in unrealized losses, while a network upgrade cutting block times to 25 seconds boosted sentiment further.
Analysts see a technical target of $1,750â$1,865, but ZEC must first hold support at $1,300â$1,350 and break through $1,500. The 4-hour RSI at 78.8 signals overbought conditions, suggesting a pullback or consolidation may come before any push higher.
The biggest risk is the largest short position's liquidation level near $2,631âa move toward it could trigger another violent squeeze or a sharp reversal if support fails. With profit-taking likely, expect heightened volatility as ZEC tests whether institutional backing can sustain the rally.
Zcash (ZEC) jumped 10% to around $1,500, fueled by Paradigm co-founder Matt Huang's public endorsement of the coin as a "private complement to Bitcoin." A massive short squeeze added fuel, with one major whale facing roughly $30 million in unrealized losses, while a network upgrade cutting block times to 25 seconds boosted sentiment further.
Analysts see a technical target of $1,750â$1,865, but ZEC must first hold support at $1,300â$1,350 and break through $1,500. The 4-hour RSI at 78.8 signals overbought conditions, suggesting a pullback or consolidation may come before any push higher.
The biggest risk is the largest short position's liquidation level near $2,631âa move toward it could trigger another violent squeeze or a sharp reversal if support fails. With profit-taking likely, expect heightened volatility as ZEC tests whether institutional backing can sustain the rally.
