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ZEC current price $669, just broke through a key resistance, surged over 10%.
An important piece of news: The Zcash Foundation removed a regulatory pressure, which is the direct reason for ZEC's recent rally. On May 20th, it broke through a key resistance, a bullish technical signal.
But now, chasing a short position has issues: it has already risen 10%, so chasing now is against the trend. The low point was $560, it surged up to $610, now at $669, meaning it has increased by 20% before shorting, which is high risk.
If you want to trade, it’s recommended to use low leverage and a light position, with a stop-loss above $700, and first target $620, then look at $600 if broken.
Low leverage shorting is okay, but the position should be light and not heavy.
Community will notify later.
$ZEC #ZEC