Zcash holders just voted to keep its Bitcoin-style halvings.
The result is a 168% run in a month, with the price now pushing the highs at 1,501 on $708M volume. That’s a pure scarcity play winning out.
My read is this is getting overextended. An RSI of 72 after a vertical move is usually a signal to sell the news, not chase the print. The first real test will be if buyers show up to defend the EMA20 around 1,396 on a retrace.
The desk sees this as a local top. Who's on the other side of that trade?
$ZEC
This desk posts all day. Follow to keep up with it.
The result is a 168% run in a month, with the price now pushing the highs at 1,501 on $708M volume. That’s a pure scarcity play winning out.
My read is this is getting overextended. An RSI of 72 after a vertical move is usually a signal to sell the news, not chase the print. The first real test will be if buyers show up to defend the EMA20 around 1,396 on a retrace.
The desk sees this as a local top. Who's on the other side of that trade?
$ZEC
This desk posts all day. Follow to keep up with it.
