ZEC’s Midnight Ride: A Crypto Tale of Squeezes and Specters 🕸️💰

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Key Takeaways:

  • ZEC’s October carnival ride: 500% gains, short sellers crying “boo!”

  • Rising wedge whispers: A 30% correction looms like a haunted house.

Zcash (ZEC), the ghost of privacy, is haunting cryptocurrency bears this Halloween, rising like a specter while the market crumbles. One of the few coins with a pulse, it’s spooking skeptics on a Friday night.

This privacy-obsessed altcoin, now trading at $390.75 (its highest since 2018), has outpaced the crypto market’s 2.50% slump. A 500% October surge? Why not-when the market’s in freefall, even a pumpkin can shine. 🎃

ZEC’s October party: 500% gains vs. the market’s 4.50% losses. A crypto Cinderella story?

What’s Brewing in the Witch’s Cauldron?

Crypto Celebrities: The New Sorcerers

High-profile endorsements have turned ZEC into a crypto séance. Naval Ravikant, the Oracle of Outcomes, dubbed it “insurance against Bitcoin” in October-a proclamation that sent ZEC soaring 60% in one day. A modern-day Merlin, perhaps? 🧙‍♂️

Mert Mumtaz, CEO of Helius, then whispered sweet nothings to ZEC’s price, suggesting a $1,000 target. Retail traders, lured by the siren song of FOMO, piled in like gulls at a picnic. Arthur Hayes, BitMEX’s ex-pirate, later tossed a $10,000 prediction into the mix, turning ZEC into a viral meme. (One might say it’s the Dogecoin of privacy.)

ZEC’s rally: A parade of crypto influencers, each more dramatic than the last. Arthur Hayes’ $10,000 call? A Hail Mary pass for the ages.

Short Sellers: The Real Victims

ZEC’s ascent has become a witch hunt for short sellers. Futures liquidations totaling $65 million in two weeks-half from shorts-suggest a classic short squeeze. Traders betting against ZEC were forced to flee like rats from a sinking ship. 🚢

Retail FOMO, meanwhile, has turned “Zcash” into an internet obsession. Search spikes in October? More addictive than a TikTok dance trend.

A Technical Chart’s Sly Wink

ZEC’s daily chart now resembles a rising wedge-a technical pattern that hints at a bearish reversal. The upper boundary near $450 suggests a final push upward before the inevitable crash. But the RSI, currently at 74, and dwindling volume hint that the buying spree is slowing. Time to sell the sizzle before the steak goes bad. 🥩

If ZEC breaks below the wedge’s lower trendline, a 30% plunge toward $260-$270 looms. The 20-day EMA (that green wave) awaits like a ghostly welcome mat. October’s Halloween horror show may turn into November’s crypto purgatory. 🕯️

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2025-10-31 14:55