|

Whales Try Playing Zcash Price Santa — But Can The Rally To $655 Arrive In Time? 

Zcash is up nearly 10% prior to now 24 hours and is buying and selling close to $446. The breakout from the bull flag sample on December 15 stays lively, and the projected goal is close to $655. That is the extent that the flag projection and Fibonacci extension agree on. So the goal survives. The downside is timing.

Mega whales have stepped in like Zcash worth Santa, however the remainder of the market shouldn’t be able to sing carols simply but.

Mega Whales Try To Deliver The Gift

The prime 100 Zcash addresses on Solana elevated their spot holdings by 2.86% prior to now 24 hours, shifting from 34,542 to 35,532 ZEC. At the present ZEC price, that’s roughly $441,480 in contemporary positioning (small but essential). That exercise helps the concept the bull flag breakout nonetheless issues and that long-term conviction is alive.

Mega Whales: Nansen

Want extra token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.

The construction is easy. A bull flag broke on December 15 and has not been invalidated but. The worth retraced, however the sample nonetheless factors increased. Whales including into that construction is the closest factor to a worth Santa this market has had all month.

Zcash Flag Target: TradingView

That stated, timing might be a problem as retail shouldn’t be following.

Dip Buying Isn’t Convincing, And Derivatives Don’t Agree

Between December 17 and December 23, the Zcash price trended higher. At the identical time, the Money Flow Index (MFI) made decrease lows. MFI measures purchase and promote stress utilizing worth and quantity. When costs rise, however MFI fails to comply with, it alerts weak dip shopping for and a insecurity amongst smaller individuals. It shouldn’t be but a breakdown sign, however it’s a warning.

Weak Dip Buying: TradingView

Hyperliquid’s derivatives information confirms this hesitation.

In the 24-hour window:

  • Whales in perps: web quick.
  • Consistent winners: nonetheless web quick regardless of growing some lengthy positions.
  • Smart cash: nonetheless web quick, hinting at bearish bias (but some lengthy positions are forming)
  • Top 100 perps addresses: chopping lengthy publicity as an alternative of including.
Zcash Perps Show Short Bias: Nansen

So even whereas spot mega whales accumulate ZEC (spot shopping for), the derivatives facet shouldn’t be backing the transfer. It exhibits a market that accepts the breakout thesis however doesn’t belief the timing.

Put merely, the $655 goal stays, however the rally lacks broad-based near-term assist.

Zcash Price Levels That Decide The Route To $655

The first checkpoint for momentum sits close to $458. That is the 0.5 Fibonacci degree. Clearing that space with a each day shut opens room towards $479 after which $508. If the Zcash price reaches $546, momentum would match the unique bull flag projection, and $655 turns into lifelike, not simply mathematical.

If Zcash reaches $655, that satisfies the measured transfer of the flag and the 1.618 Fibonacci extension.

Zcash Price Analysis: TradingView

If momentum fails, $411 turns into the primary examine for harm. Below that, $370 threatens a full invalidation. For now, the flag construction stays intact. Whales are attempting to ship. Retail and derivatives should not able to open the door.

The publish Whales Try Playing Zcash Price Santa — But Can The Rally To $655 Arrive In Time?  appeared first on BeInCrypto.

Similar Posts