Grayscale Files for Zcash Spot ETF, A First for Privacy Coins in the US
- First Privacy Coin ETF Application: Grayscale has filed with the SEC to convert its existing Zcash Trust into a spot ETF, marking the first attempt to list a privacy-focused cryptocurrency ETF in the U.S., and if approved, it will be the world's first spot ETF linked to a privacy coin.
- Regulatory Risk Mitigation: This application coincides with the SEC's conclusion of its long-running investigation into privacy coins without imposing sanctions, which market analysts interpret as a reduction in regulatory risks for the sector, potentially paving the way for future investments in privacy coins.
- Strong Market Performance for ZEC: ZEC has seen a 32% increase over the past week and is currently trading at $555, indicating its sustained popularity in the market, attracting attention from various investors including Multicoin Capital.
- Increased Investor Confidence: Tushar Jain, co-founder of Multicoin Capital, noted that his fund has significantly increased its ZEC holdings since February, viewing ZEC as a macro protection tool, further reflecting growing market confidence in privacy coins.
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Technical Analysis for ZEC
Technical Sentiment Analysis for Zcash (ZEC). As of , Zcash (ZEC) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 3 indicators are flashing buy, while 2 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for ZEC 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, ZEC 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 $-.
Zcash (ZEC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 294.354 | 390.482 | 497.744 | 593.872 | 701.134 | 797.262 | 904.524 |
| Fibonacci | 390.482 | 468.177 | 516.177 | 593.872 | 671.567 | 719.567 | 797.262 |
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