Zcash Hits Three-Year High After Grayscale Launch
Zcash (ZEC) price rose above $120 on Thursday. It gained over 100% this week. The rally started after Grayscale launched the Zcash Trust for private investors. The Trust now manages over $46 million. Its net asset value per share is $9.70.
ZEC passed the key 61.8% Fibonacci retracement level at $111. This level is based on the drop from $372 in May 2021 to $15 in July 2024. If ZEC closes above $111, it could rise to the next level at $189.
Open Interest in ZEC derivatives rose over 200% in 24 hours, reaching $120 million. The funding rate turned positive, showing strong buying interest. The Relative Strength Index (RSI) is 83, indicating overbought conditions. The MACD also shows strong bullish momentum.
If ZEC falls below $111, support levels are at $100 and $76.
DeXe Gains as Whale Interest Increases
DeXe (DEXE) rose 1% on Thursday, staying above $10 after an 18% jump the day before. Large investors, known as whales, are buying more DeXe. CryptoQuant data shows a rise in whale orders recently.
The next resistance level is $12.68. The RSI is 72, signaling strong demand. The MACD shows more buying pressure. If the price drops, support is near the 200-day EMA at $9.86.
MYX Finance Nears Breakout of All-Time High
MYX Finance (MYX) is close to breaking its all-time high of $19.00. It gained nearly 3% on Thursday after a 5% rise the day before. A daily close above $19 will confirm a breakout from its consolidation range.
Resistance levels are at $22.52 and $29.78. The RSI is 67, showing steady bullish momentum. The MACD supports the uptrend with rising green bars.
If MYX reverses, support is at $11.74.
