$ZEC Price Surge and Whale Purchases: ZEC rose by over 9.6% to $459, driven by significant accumulation by whales and large on-chain buy orders.
Substantial Upgrade: The new dynamic fee proposal has boosted investor confidence by aiming for $ZEC cheaper and more efficient transactions.
Organizational Focus: The participation of the ZEC founder in a future round of the Securities and Exchange Commission (SEC) on privacy contributes to positive sentiment and increases hopes regarding regulatory clarity.
Technical warning: Despite the rise, the deteriorating momentum (negative MACD) and high leverage create risks, with key support at $447.
The technical outlook for ZEC
ZEC has risen by 9.6% but shows deteriorating momentum (negative MACD). It finds support in the range of $447-$453. High leverage poses a risk of liquidation if this support fails.
Boosting sentiment through upgrades and interest from the SEC
The proposed upgrade for dynamic fees aims to reduce transaction costs.
The involvement of the ZEC founder in the SEC's privacy round is seen as positive, increasing interest from whales and institutions. 🔗
Trading and securitization opportunities
Although there are currently no active campaigns, traders can benefit from ZEC's high volatility. Explore general trading features on the Binance platform and potential securitization options to earn rewards.
Strategic levels to watch
A breakout above the resistance level of $468 could indicate further upside.
A drop below the support level of $447 could lead to a price correction.
