Arthur Hayes Declares 'Holy Trinity' Trade Dead After Exiting ZEC Position
- Complete Exit from ZEC: Arthur Hayes sold his entire ZEC position after assessing the Orchard vulnerability, indicating a significant loss of confidence in Zcash's privacy and supply assurance narrative, which has led to a sharp decline in market sentiment.
- Impact of Orchard Vulnerability: Zcash developers coordinated an emergency response upon discovering a critical flaw in Orchard, and while no unauthorized value creation was detected, the heightened trust standards for privacy coins have negatively impacted ZEC's market performance.
- ZEC Price Plunge: Following the vulnerability disclosure, ZEC's price dropped approximately 30% within 24 hours, trading between $398 and $611, illustrating the high volatility of privacy trades when confidence shifts, further exacerbating investor unease.
- Future Supply Proof Challenge: Shielded Labs is exploring a network upgrade to enhance the integrity verification of Zcash's supply, a change that requires community support and governance approval, indicating significant challenges for Zcash in restoring market confidence.
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Technical Analysis for X
Technical Sentiment Analysis for X Empire (X). As of , X Empire (X) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 4 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for X stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, X is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
X Empire (X) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00000915 | 0.0000101 | 0.0000112 | 0.0000122 | 0.0000133 | 0.0000143 | 0.0000154 |
| Fibonacci | 0.0000101 | 0.0000109 | 0.0000114 | 0.0000122 | 0.000013 | 0.0000135 | 0.0000143 |
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