Zcash holds near $1,278 as $30M Grayscale ETF outflows cap recovery
- —ZEC holds near $1,278 after three days of recovery and a 4% gain on Sunday
- —Grayscale's ZCSH ETF recorded $30.72 million in weekly outflows, down from $93.56 million
- —ZEC trades below its 50-period EMA at $1,279 and 200-period EMA at $1,274
- —RSI near 58 and a rising MACD suggest buyers are attempting to regain control
Why it matters: Weak institutional demand and a looming death cross could push ZEC toward $1,050 unless it breaks above $1,296.
Source: FXStreet Crypto