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Zikash has struggled to recover in recent days as uncertainty in the broader market limits its upward momentum. Despite this stagnant price performance, privacy-focused crypto may see renewed interest thanks to a major development from Grayscale.
The latest regulatory filing positioned asset manager Zcash as a potential candidate for one of the next cryptocurrency ETFs in the United States, sparking optimism about a potential rally.
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Zcash traders should be careful
Market indicators show that Zikash is facing persistent outflows. Chaikin Money Flow (CMF) on the daily chart has been trending lower, reflecting weak demand from investors. with The price of your costume has failed Making significant gains, many holders began to exit their positions to avoid deeper losses.
This continued selling pressure limits recovery attempts.
However, the feeling can change dramatically later Grayscale presentation of ZCSH Form S-3. This filing is a major regulatory step toward the launch of the first Zcash ETF trading products, Grayscale said.
If approved, the ETF will provide ZEC with institutional-level access and will likely increase demand. Historically, ETF conversations have generated strong flows, and Zcash may also benefit as investors expect greater exposure to the market.
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Series and derivative data also indicate the potential for a rally. Zikash’s liquidation map shows that short sellers may be in a weak position. A modest price move toward the next resistance at $600 would result in a short liquidation of $19.43 million.
Such conditions create a delicate environment where even a small demand shock – such as ETF-driven speculation – can generate strong market reactions. If flows return and short positions decrease, Zikas can testify Rapid climb to the top.
ZEC price needs support
ZEC is currently trading at $543, holding the $520 support level while struggling to break the $600 level. This range has narrowed the altcoin’s movement as investors await clearer signals from market sentiment and regulatory developments.
If grayscale filing restores investor confidence, ZEC can pay Around $600. A successful break above this level could liquidate a large number of short positions and bring the altcoin closer to the $700 mark.
However, if the order is not returned, Zi Cash can continue The consolidation is between $520 and $600. A pullback below the support could see the price fall towards $442, invalidating the bullish thesis and delaying recovery efforts.
