$ZEC is down 4.3% over the last 24 hours as selling pressure continues. Around $11M–$13M in weekly institutional outflows from Grayscale ZEC vehicles have weighed on market sentiment.
Despite the successful NU7 mainnet activation, the rally failed to hold as traders took profits. ZEC has also slipped below its 25 and 99 EMAs, with RSI near 39.9 showing weak momentum.
I'm watching the $1,225 support level closely. A recovery will likely need stronger buying interest and a slowdown in institutional outflows.
$ZEC
#JobsReportRaisesHikeOdds #CPITestsDecemberRateOutlook #WillAnthropicListOnTime #TradFiForBeginners #TMCrypto
Despite the successful NU7 mainnet activation, the rally failed to hold as traders took profits. ZEC has also slipped below its 25 and 99 EMAs, with RSI near 39.9 showing weak momentum.
I'm watching the $1,225 support level closely. A recovery will likely need stronger buying interest and a slowdown in institutional outflows.
$ZEC
#JobsReportRaisesHikeOdds #CPITestsDecemberRateOutlook #WillAnthropicListOnTime #TradFiForBeginners #TMCrypto