Overview
- ZEC traded near $470 after losing the $480 level, with a weekly decline of roughly 28%–30% and a test of a double‑top neckline around $470.
- Grayscale submitted an S‑3 to the SEC to convert its Zcash Trust (ZCSH) into a U.S. spot ETF on NYSE Arca, a step that does not guarantee approval.
- Spot activity cooled with 24‑hour volume down about 25.5% to $740 million, while derivatives volume and open interest also fell, according to CoinGlass.
- Technical gauges flagged weakening momentum, including a break below the 50‑day moving average and sell signals on momentum and MACD indicators.
- A move toward $600 could trigger an estimated $19.43 million in short liquidations per Coinglass data, underscoring the risk of swift swings.