Zcash’s Woes & Wins: A Tale of Profit & Perseverance 🤑💎

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Pray, allow me to present the curious case of Zcash, which has entered the year 2026 with a countenance most enviable, boasting a rally of 53% in the past month and a staggering 780% year-on-year. 🌟 Yet, like a debutante facing her first scandal, it recently endured a 10% pullback, a mere trifle caused by profit-booking, not a failure of trend, mind you! 😏

New suitors, improving fortunes, and a steadfast support zone now uphold its breakout aspirations, much like a gentleman’s unwavering devotion. 💖

Dip Buyers: The Heroes of This Financial Romance 💪

Zcash, ever the darling of the ascending channel, has danced gracefully with higher highs and higher lows. Alas, on December 29, the upper trendline rejected its advances, causing a brief pause in its spirited momentum. This led to a near 10% dip over the following days, but fear not, for the structure remains as intact as a well-guarded reputation. 🕺

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The dip, I daresay, was accompanied by profit-booking. On December 29, exchanges witnessed inflows of $38.22 million, followed by $7.88 million the next day. Those green spikes? Mere evidence of selling pressure, my dear. 💸

However, by December 31, the winds shifted, and flows turned to $16.63 million in outflows, hinting at dip buying and supply fleeing exchanges once more. The prices, naturally, bounced back with the resilience of a heroine in a novel. 🏃♀️💨

The Money Flow Index (MFI), that trusty barometer of financial sentiment, confirms this. While the price dipped between December 29 and December 31, the MFI climbed, indicating that dip buyers were accumulating rather than fleeing. How very bullish of them! 🐂

So long as ZEC remains above the lower boundary near $500, the bullish structure stands firm. Provided the MFI continues its ascent and spot flows favor buyers, all shall be well. 🛡️

Key Price Levels: The Grand Ball of Breakout Confirmation 🎩

The first test for our intrepid buyers is a clean daily close above $559, a feat requiring an 8% surge. Above this, the next zone to watch is $596-$626, the breakout window. Surpassing it opens the path to measured targets at $657 and $699, keeping the channel breakout target of above 84% intact. How thrilling! 🎉

Below $500, sentiment turns as weak as a fainting heroine, and the structure risks a breakdown. It would then be most intriguing to see if the lower trendline provides support or crumbles. Until then, buyers hold the reins. 🧐

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2026-01-01 15:17