Zcash (ZEC) price surged 15% to 224 USD after maintaining above the 20-day EMA at 187.75 USD, indicating revived buyer strength. This upward movement marks a significant rebound after periods of selling pressure.
Open Interest in ZEC derivatives hit 170 million USD, alongside a Long/Short Ratio of 1.213, suggesting a bullish trend. These indicators reflect increased confidence among traders, positioning ZEC for a potential test of the 300 USD resistance zone.
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