From TokenPost · · 40s
Zcash Drops 13% as Price Hits Demand Zone
Zcash price falls 13% into $1,036, $1,162 demand zone amid selling signals.
In brief
Zcash price falls 13% into $1,036, $1,162 demand zone amid selling signals. Zcash dropped 13% over 24 hours after entering a $1,036, $1,162 demand zone as selling signals increased. Originally reported by TokenPost.
Zcash price falls
Zcash fell about 13% over 24 hours as selling signals mounted in an update at 11 a.m. ET (15:00 UTC) Oct. 15.
Demand zone boundary
The zone’s lower boundary is $1,036. A move below that floor invalidates its bullish formation.
Selling pressure intensifies
Spot netflows were negative for two days, and long liquidations exceeded $13 million as leveraged bullish positions closed.
The takeaway
Zcash dropped 13% over 24 hours after entering a $1,036, $1,162 demand zone as selling signals increased.
