$ZEC is currently trading at $487.31, with a 27% decrease in the last 24 hours, likely due to profit-taking after a massive 1,500% rally in two months. The token's Relative Strength Index (RSI) reached an all-time high of 94.24, indicating extreme overbought conditions, which often precede sharp corrections ¹.
*Key Developments:*
- *Institutional Adoption:* Grayscale's Zcash Trust (ZCSH) manages $151.6 million in assets, providing a regulated on-ramp for institutional capital.
- *High-Profile Endorsements:* BitMEX co-founder Arthur Hayes has made ZEC his family office's second-largest holding after Bitcoin, boosting market sentiment.
- *DeFi Integration:* Zenrock's wrapped ZEC token (zenZEC) has generated $15 million in trading volume, expanding ZEC's reach in DeFi ² ³.
*Technical Analysis:*
- *Resistance:* $550-$600 range, with potential targets at $900-$1,000.
- *Support:* $440, with a breach potentially testing the 20-period EMA at $381.38.
- *Open Interest:* $939 million, signaling lingering volatility risk ⁴ ¹.
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