Foreign media reports that Zcash has recently become one of the strongest-performing assets in the crypto market, with its price once rising above $1,220. The report links this upward trend to increased demand from institutional investors, specifically mentioning that the scale of ZEC ETF related to Grayscale has exceeded $500 million. After the rapid price increase, the market's focus has shifted to whether this upward momentum can continue to expand.
ETF Capital growth drives up prices
The article states that ZEC has seen a cumulative increase of over 50% in recent days, breaking through the $1200 mark. Compared to the previous range of $650 to $700 where it was hindered for a long time, the current price has significantly risen. Foreign media believes that the inflow of funds into ETF is one of the important catalysts for this round of gains, and it has also made ZEC stand out among mainstream crypto assets recently.
- Grayscale Related: ZEC ETF Asset management scale exceeds 500 million US dollars
- ZEC The price once rose to $1220.
- In recent days, the cumulative increase has exceeded 50%.
$1,435 becomes the next resistance level
The article suggests that ZEC has already moved above the main moving averages, and the short-term trend remains strong. The current support level is around $1162, while $1435 is seen as the next major resistance. If the price breaks through this level and remains above it, the market may move further towards the integer milestone of $1500.
However, the report also mentions that continuous record-high prices do not necessarily mean that buying interest will continue to strengthen in tandem. The cumulative trading volume difference indicator cited in the article has turned positive, indicating that active buying is still supporting the upward trend. But if prices continue to rise in the future while the strength of buying interest begins to slow down, the short-term momentum may weaken.
Unclosed contracts increase the risk of amplified volatility
In addition to the spot market and the demand for ETF, the derivatives market is also heating up simultaneously. The article states that as ZEC has successively broken through $1,000 and approached $1,200, the number of open contracts has significantly increased, indicating that more new positions have entered the market, rather than just spot buying pushing up prices.
This also means that leverage risk is accumulating. If prices continue to remain above $1200 and the number of open contracts remains high, the current strong trend may continue; however, if prices turn around, higher leverage could also amplify liquidation pressure, leading to a rapid increase in volatility.
Overall, foreign media believes that the ZEC short-term trend is still in a strong range, but $1435 will be the key level that determines whether the upward trend can further expand.
