$ZEC C rallies into the green as shielded coins reach new record

ZEC broke out again, trading close to $360, after a recent local low of $288.

Over 60% of traders are shorting ZEC, expecting the rally not to sustain, with significant liquidations following the price recovery.

The ZEC community is highly active in shielding coins, with over 4.9M ZEC placed in anonymous pools.

ZCash (ZEC) spent another day among top crypto gainers, breaking out from the pack of altcoins. ZEC traded close to $360 once again, as deposits to the shielding pools accelerated again. 

The ZCash (ZEC) rally found support after the coin dipped closer to $300. Despite the setback for other assets, ZEC broke out of the pack again, moving closer to $360. 

ZEC now presents extreme risks for attempting to short the coin, potentially breaking out to cause a short squeeze. ZEC open interest is near an all-time high, with derivatives most concentrated on Binance. $ZEC EC showed it is capable of bouncing from a recent local low of $288, resuming its overall bullish trend.

The ZEC community remains bullish, with still significant mindshare on social media. The expectations are for ZEC to claim four-digit prices and line up among top tokens, with a move above $1,000 in the next few weeks.#zec #crypto #MarketSentimentToday