$ZEC
What’s been interesting about the recovery back to $680 is that the move doesn’t really look retail-driven.
Retail participation has mostly remained flat throughout the structure, while the majority of the buying has continued coming from mid-sized flows.
At the same time, larger institutional-sized flows dropped during the correction, but have slowly started turning back upward. Interestingly, the low in institutional flows also lined up almost perfectly with the local low in price.
That creates a very different backdrop from the type of euphoric breakout conditions people usually expect near reversals.
So far, the move has looked more like sustained positioning coming back into the chart rather than a retail-led momentum chase.
Now ZEC is attempting to reclaim the November high region after breaking above $640.
If larger flows also start pushing back toward their prior highs above this region, then the probability of continuation higher starts increasing pretty quickly from there.
