$ZEN pullback clears high leverage, 32 yuan becomes key support, 50 yuan mark in sight?
ZEN, the currency, may still rise back to the previous high of more than 100 yuan. But the problem now is that the selling pressure at the monthly level is too great, and it is difficult for those big players and market makers to directly push it above 50 yuan in a short period of time. After all, no matter how rich the institution is, it cannot always use super high RSI (that is, the market heat index, above 90 is considered very high) to force the price.
ZEN, the currency, may still rise back to the previous high of more than 100 yuan. But the problem now is that the selling pressure at the monthly level is too great, and it is difficult for those big players and market makers to directly push it above 50 yuan in a short period of time. After all, no matter how rich the institution is, it cannot always use super high RSI (that is, the market heat index, above 90 is considered very high) to force the price. Now the pullback clears those high-leverage contracts around 35 to 32 yuan. The main force may wash the price to 32.18, which will probably blow up more than 1.2 million high-leverage contracts.
The market value of this coin is low, which is a key point. Although Grayscale did not increase its position, it did not sell it off. Therefore, friends who hold ZEN below 25 yuan, don't worry too much. When that critical moment comes, it may be the day when it breaks through the 50 yuan mark.
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