Zcash Waiting for $404? Literally the Only Thing That Matters Now! 🚨

by

“Zcash’s Big Comeback?” Yeah, Sure. Keep Dreaming.”

Zcash’s price is taking a nap after a multi-month marathon. Yeah, it’s still up over 650% in three months-like it’s on steroids. But lately? It’s been more like a sluggish tortoise. Down 11% in a week and 43% in a month. Ouch. 💸

And now, everyone’s asking: Is this just a quick coffee break, or is the rally just… done? Well, the techy stuff-leverage, on-chain signals, price levels-says it all depends on one thing: Can Zcash get back over the magical $404 line? Or are we just fooling ourselves?

Cautious Signals: The Market’s Playing Hard to Get

Momentum indicators are throwing mixed signals, like a bad date. The Chaikin Money Flow (CMF)-which, frankly, sounds like something out of a crime drama-shows some hope. Between December 11 and 17, Zcash made a lower high, but CMF went slightly higher. That’s like saying, “Hey, maybe buying is happening… very quietly. Very cautiously.”

But-and this is a big but-CMF remains below zero. Which means, in simple terms, investors are still jittery. Not exactly throwing money at it. They’re just kind of peeking over the fence, not diving in.

Market Caution

Want more token insights like this? Sign up for Harsh’s Daily Crypto Newsletter-before the market changes again!

Then there’s OBV (On-Balance Volume)-which is just a fancy way of saying volume moves-pretty much copying price trends. Nothing surprising. No big breakthroughs, no sign of a rally coming soon.

Cautious Volume

Long story short, some people are sneaking in to buy, but no one’s doing the victory dance yet. It’s early days, my friend-like showing up to the party in a nice shirt but no one’s ready to dance.

Leverage? It’s Like a Tsunami of Confusion

Leverage data-because who doesn’t love speculating with other people’s money?-helps explain the sluggish pace. On the seven-day map? Short positions, about $44 million worth, are still holding their ground. Traders are betting on the downside like it’s Black Friday sale.

Meanwhile, the longs? Just $14 million. Looks like most traders are still expecting Zcash to go lower instead of higher. Typical-everyone’s a pessimist until they’re proven wrong.

Shady Short Positions

But flip the coin-look at the 30-day picture. Both longs and shorts are sitting at around $38 million. Well, that just means some traders are hedging their bets, like trying to decide between a burger or a salad. The longer-term? Not as bearish as you might think. Almost half are dreaming of higher prices.

Balanced Leverage

This tug-of-war explains why Zcash isn’t moving much-lazy or just cautious? Likely both. It’s waiting for a reason to jump, and that reason is: reclaim $404. Or not. Either way, it’s all about that number.

Price Levels That Decide if We Cry or Celebrate

The bottom line-where’s the support? $301. That’s the level that’s been tested so often it’s basically the market’s BFF. If Zcash stays above that, the uptrend’s still alive. Barely.

The real hot potato? $404. Zcash can’t seem to hold above it. It’s like the bouncer at a club-either you get in, or you’re not getting past. A daily close above $404? That’s the green light for the bulls. Otherwise, we’re just waiting for the next train to disappointment at $520. Been here before, haven’t we?

$404 Resistance

If $404 keeps playing hard to get, down we go-possibly all the way back to $301, and then… more tears. So, what’s the deal? Zcash’s future depends on that magic number. And right now? It’s just sitting there, waiting for some courage. Or maybe a miracle. Or both. 😏

Read More

2025-12-17 13:32