🚀 Zcash ( $ZEC ): What is happening with the price?
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If you opened the ZEC chart today, you must have noticed that the mood has cooled down after that meteoric rise. Let's understand what the chart is telling us in simple terms?
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📉 The Current Moment
After a surreal appreciation of nearly 950% in the last year, the price has pulled back. It's as if the coin is "taking a breather" after an exhausting marathon.
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💡 Key Points:
Natural Correction: Nothing goes up in a straight line forever. After reaching high peaks (getting close to 750), it's common for investors to take profits, which causes the price to drop a bit.
The Recent Drop: In the last 30 days, we saw a decrease of about 45%. For those looking at the short term, it's alarming; but for those looking at the 1-year chart, the coin is still heavily in profit!
Selling Pressure: At the moment, there are more people wanting to sell than to buy (about 76% selling offer), which keeps the price pressured down to 279 USDT.
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🔥 What to watch?
The market is testing investors' patience. The big question now is: will ZEC find strength to rise again or will it seek lower levels before a new reaction?
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Remember: In the world of cryptos, volatility is the name of the game. What goes up quickly can drop quickly, and vice versa. 🎢
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And you? Do you think ZEC still has the fuel to seek 500 again or has the rally ended? Comment below! 👇
