Zcash rebounds 14% from $1,073 low to reclaim $1,224
- —ZEC's daily range was $178.31, or 16.61%, between $1,073.55 and $1,251.86
- —The price recovered 13.97% from the low and reclaimed the $1,100 level
- —About 36,900 ZEC changed hands on Kraken in 24 hours
- —Bitcoin moved just over 1% and Ether under 2% over the same period
Why it matters: A wide range in a thin order book wipes out leveraged longs: at 10x, a roughly 10% counter-move is enough.
Source: CryptoTicker