Zcash Sees Price Surge as Investors Capitalize on Recent Dip
On October 15, Zcash (ZEC) experienced a significant price increase, continuing its upward trend. Investors seized the opportunity to buy during the recent dip, fueling the bull run.
The surge in Zcash’s value coincides with a rise in the Grayscale ZEC Fund assets.
Key points include:
- Zcash price reached $265, a 25% increase from its weekly low.
- Grayscale Zcash Trust assets surpassed $92 million.
- Total shielded ZEC tokens hit a record high of 4.53 million.
Tho, a wyckoff Theory analysis suggests a potential Zcash price crash. The daily chart indicates the token might potentially be entering the distribution phase, characterized by large price swings and retail buying during dips.
Signs of this phase include the token reaching the Murrey Math Lines overshoot level and forming a double-bottom pattern.If a downtrend resumes, the next key level to watch is $125.
For more insights, check the crypto.news for updates on Zcash and other privacy coins like Dash and Monero.
