Zcash ($ZEC ) is attempting to stabilize after pulling back from its recent parabolic run to eight-year highs near $888. Following the hype around recent major network and product catalysts, price action has cooled off and is currently consolidating around the $765 to $775 range.
The market is digesting heavy profit-taking and the unwinding of over-leveraged long positions following the initial news volatility. Trading volume remains massive at over $1.2B in 24 hours as buyers attempt to absorb sell pressure and form a stable higher low.
Where things stand on the chart
On the downside: The critical immediate support level to watch sits between $715 and $735. If panic selling picks back up and breaks below $715 on a daily close, the token could easily slide lower toward the $615 – $660 liquidity zone.
On the upside: Lower timeframes show buyers actively defending key moving averages near the local lows. If bulls step in and push the price back above the $800 – $840 hurdle, it could trigger another aggressive expansion leg retesting $880+...
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$BTR
$LAB #SECSendsCryptoCustodyRuleToWhiteHouse #IranSaysHormuzOmanDealNotFinalized #KOSPIRisesNearly1% #crypto #zec
The market is digesting heavy profit-taking and the unwinding of over-leveraged long positions following the initial news volatility. Trading volume remains massive at over $1.2B in 24 hours as buyers attempt to absorb sell pressure and form a stable higher low.
Where things stand on the chart
On the downside: The critical immediate support level to watch sits between $715 and $735. If panic selling picks back up and breaks below $715 on a daily close, the token could easily slide lower toward the $615 – $660 liquidity zone.
On the upside: Lower timeframes show buyers actively defending key moving averages near the local lows. If bulls step in and push the price back above the $800 – $840 hurdle, it could trigger another aggressive expansion leg retesting $880+...
Click here to see more details 👇
$BTR
$LAB #SECSendsCryptoCustodyRuleToWhiteHouse #IranSaysHormuzOmanDealNotFinalized #KOSPIRisesNearly1% #crypto #zec
