Markets· ★★★· bearish·

Zcash faces 20% downside risk as Grayscale ETF outflows persist

  • —ZEC trades near $1,246, below the 200-period EMA at $1,287 on the 4-hour chart
  • —Grayscale's ZCSH saw $8.49 million in outflows Wednesday, $12.05 million for the week
  • —The 3-for-1 stock split triggered redemptions and weaker institutional demand
  • —The Winklevoss twins filed for a new ZEC ETF, 13 years after their 2013 Bitcoin ETF filing
Why it matters: A decisive break below the $1,287 EMA opens the door to $1,050 and $1,000; reclaiming $1,355 would ease the bearish bias.
#ZEC
Source: FXStreet Crypto
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