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Zcash inflows spike as price hits resistance level: A sell-off signal?

- ZEC’s long/short ratio indicates a strong bearish sentiment among the traders.
- Currently, 52% of top traders hold short positions, while 48% hold long positions.

ZEC, the native token of Zcash, is making waves in the crypto market with its impressive performance over the past week. With the upside momentum, it appears that the sentiment among whales and traders has been shifting as reported by on-chain analytics firm Coinglass.

Zcash’s $7.8M inflow

According to Coinglass’ ZEC inflow/outflow data, exchanges in the last four days have witnessed a significant $7.85 million inflow, indicating that the asset has been deposited into the exchanges.

In the cryptocurrency context, inflow refers to a sell-off signal and hints potential price decline in the coming days.

Zcash inflows spike as price hits resistance level: A sell-off signal?

- ZEC’s long/short ratio indicates a strong bearish sentiment among the traders.
- Currently, 52% of top traders hold short positions, while 48% hold long positions.

ZEC, the native token of Zcash, is making waves in the crypto market with its impressive performance over the past week. With the upside momentum, it appears that the sentiment among whales and traders has been shifting as reported by on-chain analytics firm Coinglass.

Zcash’s $7.8M inflow

According to Coinglass’ ZEC inflow/outflow data, exchanges in the last four days have witnessed a significant $7.85 million inflow, indicating that the asset has been deposited into the exchanges.

In the cryptocurrency context, inflow refers to a sell-off signal and hints potential price decline in the coming days. 

https://ambcrypto.com/zcash-inflows-spike-as-price-hits-resistance-level-a-sell-off-signal/