$ZEC is moving like it has something to prove đ„
On the 1H chart, Zcash is trading around $1,621 after ripping from the $1,445 area and printing a fresh intraday high near $1,650. Price is holding well above the 7/25/99 MAs at roughly $1,554, $1,518 and $1,503, keeping the short-term structure firmly bullish.
But thereâs one big catch: RSI(6) is around 81, showing very stretched momentum. That doesnât automatically mean a dump, but it does increase the chance of a sharp pullback or sideways cooling.
For bulls, $1,650 is the immediate breakout zone. A clean 1H close above it with strong volume could open the door toward $1,700â$1,750. If rejected, watch $1,580, then $1,520â$1,500 as key areas.
Momentum is hot. Now the question is: breakout or cooldown? đ
#zec #zcash #BNBMarketCapPassesBNYMellon
On the 1H chart, Zcash is trading around $1,621 after ripping from the $1,445 area and printing a fresh intraday high near $1,650. Price is holding well above the 7/25/99 MAs at roughly $1,554, $1,518 and $1,503, keeping the short-term structure firmly bullish.
But thereâs one big catch: RSI(6) is around 81, showing very stretched momentum. That doesnât automatically mean a dump, but it does increase the chance of a sharp pullback or sideways cooling.
For bulls, $1,650 is the immediate breakout zone. A clean 1H close above it with strong volume could open the door toward $1,700â$1,750. If rejected, watch $1,580, then $1,520â$1,500 as key areas.
Momentum is hot. Now the question is: breakout or cooldown? đ
#zec #zcash #BNBMarketCapPassesBNYMellon
