Foundry Launches Zcash Mining Pool, Securing 30% Market Share
- Market Share Growth: Foundry Digital's newly launched Zcash mining pool has secured nearly 30% of the Zcash network hashrate through partnerships with multiple institutional miners, indicating strong demand for compliant Zcash mining solutions among institutional and public miners.
- Block Reward Performance: Since its launch earlier this month, the Foundry Zcash Pool has mined 2,344 blocks, with each block yielding 1.25 ZEC, currently valued at approximately $458, demonstrating significant output in a short timeframe.
- Competitive Landscape Shift: The increase in Foundry's hashrate share has impacted ViaBTC's dominance, which has dropped from 68.1% on February 27 to 37%, reflecting intensified market competition and Foundry's rapid ascent.
- ZEC's Strong Performance: Zcash has shown remarkable performance over the past year, with a price increase of 1,050%, including a 77.2% rally in the month following Foundry's initial announcement, now boasting a market cap of $6.2 billion, making it the fifth-largest proof-of-work token.
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Technical Analysis for BCH
Technical Sentiment Analysis for Bitcoin Cash (BCH). As of , Bitcoin Cash (BCH) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BCH 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, BCH 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 $-.
Bitcoin Cash (BCH) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 391.013 | 405.257 | 421.413 | 435.657 | 451.813 | 466.057 | 482.213 |
| Fibonacci | 405.257 | 416.869 | 424.044 | 435.657 | 447.269 | 454.444 | 466.057 |
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