Zcash Tops $1,260 Despite $100M Outflow From Grayscale ZCSH
- —ZEC trades above $1,263 after gaining roughly 4% in a day
- —ZCSH outflows hit $30.72M last week and $124.28M over two weeks
- —RSI at 51 and a rising MACD point to recovering short-term demand
- —A break above $1,296 opens the way to $1,422; a reversal risks a drop to $1,050
Why it matters: Institutional outflows from Zcash products are being offset by spot buying, which will determine whether the rebound holds.
Source: Blockmedia