$ZEC spikes to $400. This a classic Short Squeeze or an Insider leak?
Contrary to the general market downtrend ZEC is making a spectacular comeback surging strongly from the $340 zone to approach the $400 mark incinerating a series of short positions|
š¹ The heatmap image shows that the dense Short liquidity bands above are continuously broken, creating a liquidation domino effect that pushes the price up vertically despite technical resistance
šø The surge in trading volume along with the price increase shows that there is a very strong buying force at the low price zone. The community is speculating about the possibility of Grayscale making a new move related to the Zcash Trust fund or news about the upcoming security upgrade
š¹ Currently, the 390 to 400 usd zone is the last barrier for the Bears with a dense density of pending sell orders. If ZEC successfully breaks out, it will open the door to the old peak of 450 USD
Do you assess this as the revival of Privacy Coins or just a dead cat bounce before crashing deeper?
This article is for reference only, this is not investment advice. Please read and consider carefully before making a decision.
