#ZECFallsBelow1000
ZEC falling below the 1000 level gives a picture that at once calls into doubt the view of the market on privacy focused assets, and this move stands out as a sharp correction that came after the strong rise formed in recent weeks.
By the latest data, ZEC moves near the 979 level and, by easing to the 962.85 level in the day, it falls to the lowest level seen since September, while the weekly loss moves above the 23 percent level.
Rather than seeking one cause behind this fall, it is needed to see that a few forces came together at the same time, because outflows on the fund side, the closing of leveraged positions, and the way the inflation data above views hurt the sense of risk together form a ground that lifts selling pressure.
Though the upgrade on the network side brought a gain that shortens the block gap, this technical gain alone did not form enough support on the price, because the market gives more weight in the short term to fund flow and to the balance of positions, and it judges the effect of technical steps over a longer term.
Seen from a technical view, the loss of the 1000 level means that a psychological threshold has been passed in the market, and the 870 to 900 range stands out as the next watched zone, because this range is seen as a zone where longer term averages meet, and how the price will react in this zone is watched closely.
For this reason, when watching this fall, it will give a far healthier and more whole view to judge together the strength of trade volume, whether fund flow keeps going or not, how the balance in leveraged positions takes shape, and the path of broad risk appetite, rather than focusing only on the closing number of the day.
In the end, ZEC below the 1000 level should be seen less as a cause for fear and more as a threshold where the current trend is being judged again, and choices made at this threshold should take shape with a staged, disciplined, and long term view rather than with sudden moves based on one day, which stands out as the most right approach both for keeping capital safe and for judging openings in a healthy way.
The market rewards patience and calm in each strong period as it does in this period, tiring those who fall into noise, while it makes the road look clearer for those who read the move with a whole view and make choices with calm judgment rather than with mood.
$ZEC
#ZECFallsBelow1000
#ShareWeekly
#WCTCS9
ZEC falling below the 1000 level gives a picture that at once calls into doubt the view of the market on privacy focused assets, and this move stands out as a sharp correction that came after the strong rise formed in recent weeks.
By the latest data, ZEC moves near the 979 level and, by easing to the 962.85 level in the day, it falls to the lowest level seen since September, while the weekly loss moves above the 23 percent level.
Rather than seeking one cause behind this fall, it is needed to see that a few forces came together at the same time, because outflows on the fund side, the closing of leveraged positions, and the way the inflation data above views hurt the sense of risk together form a ground that lifts selling pressure.
Though the upgrade on the network side brought a gain that shortens the block gap, this technical gain alone did not form enough support on the price, because the market gives more weight in the short term to fund flow and to the balance of positions, and it judges the effect of technical steps over a longer term.
Seen from a technical view, the loss of the 1000 level means that a psychological threshold has been passed in the market, and the 870 to 900 range stands out as the next watched zone, because this range is seen as a zone where longer term averages meet, and how the price will react in this zone is watched closely.
For this reason, when watching this fall, it will give a far healthier and more whole view to judge together the strength of trade volume, whether fund flow keeps going or not, how the balance in leveraged positions takes shape, and the path of broad risk appetite, rather than focusing only on the closing number of the day.
In the end, ZEC below the 1000 level should be seen less as a cause for fear and more as a threshold where the current trend is being judged again, and choices made at this threshold should take shape with a staged, disciplined, and long term view rather than with sudden moves based on one day, which stands out as the most right approach both for keeping capital safe and for judging openings in a healthy way.
The market rewards patience and calm in each strong period as it does in this period, tiring those who fall into noise, while it makes the road look clearer for those who read the move with a whole view and make choices with calm judgment rather than with mood.
$ZEC
#ZECFallsBelow1000
#ShareWeekly
#WCTCS9
