Zcash Soars 30% After US–Iran Ceasefire: Is ZEC Breakout a Bull Trap?
Cointelegraph
Zcash rallied 30% following a US-Iran ceasefire, but analysts warn of a potential bull trap similar to its 2021 market performance.Summary
Zcash (ZEC) experienced a 30% price surge to $336.50 following a US-Iran ceasefire announcement, leading privacy coin gains. Despite this, analysts caution that the current chart setup mirrors a 2021 bull trap, where upside momentum remained capped by a descending trendline. With over $50 million in long leverage concentrated below current prices, the asset faces significant downside risk unless it can decisively break through its $370 resistance level.
(Source：Cointelegraph)