$ZEC Zcash is climbing above $450 as buyers build support around $436. The recovery looks increasingly strong, reflected in the positively trending MACD histogram on the daily candlestick chart, with RSI approaching the midline.
On the upside, the nearest resistance pops up at the 50-day EMA around $474, with the upper boundary of the descending parallel channel near $500 becoming the next hurdle if buyers manage to break through. On the downside, initial support aligns with the 100-day EMA around $436, followed by the more strategic 200-day EMA close to $380. A sustained breach below this zone would expose the lower boundary of the channel around $239 as the next significant demand area.
Retail interest in Zcash derivatives remains lackluster, posing a major concern, particularly as Open Interest (OI) for futures contracts has dropped to $919 million on Monday, down from just over $1 billion the day before. Current OI is significantly lower compared to the $1.67 billion recorded at the end of May.
#SpaceXPremarketFalls4.6% #OilRebounds3% $ZK $ZKC
On the upside, the nearest resistance pops up at the 50-day EMA around $474, with the upper boundary of the descending parallel channel near $500 becoming the next hurdle if buyers manage to break through. On the downside, initial support aligns with the 100-day EMA around $436, followed by the more strategic 200-day EMA close to $380. A sustained breach below this zone would expose the lower boundary of the channel around $239 as the next significant demand area.
Retail interest in Zcash derivatives remains lackluster, posing a major concern, particularly as Open Interest (OI) for futures contracts has dropped to $919 million on Monday, down from just over $1 billion the day before. Current OI is significantly lower compared to the $1.67 billion recorded at the end of May.
#SpaceXPremarketFalls4.6% #OilRebounds3% $ZK $ZKC