ZEC is no longer a quiet chart.
The screenshot shows ZEC around 796.629 with a 1.65 percent 24 hour gain, but the bigger story is what has been happening around the asset recently.
Zcash has been attracting serious market attention. Recent reports showed ZEC reaching an eight year high near 850 while futures volume approached 10 billion and open interest reached around 1.76 billion. A US spot Zcash ETF also began trading this week, adding another major catalyst to the narrative. 3
This is exactly the kind of environment where the silence before the next storm can be dangerous for anyone standing on the wrong side of the move.
I am watching 780 to 800 as the key support region. If buyers protect that zone, the market could attempt another attack on 850.
A clean break above 850 would make 900 and 960 the next major areas I would watch.
But this chart is volatile. If 780 fails with heavy selling, momentum could quickly shift.
EP 796.629
TP 850
TP 900
TP 960
SL 755
ZEC has momentum, narrative and market attention all working at the same time. Now the question is whether buyers can convert that attention into another breakout.
I am ready for the move.
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