$ZEC /USDT — Sharp Sell-Off After Losing Momentum
I’m watching ZEC around 1,204.95 because the price has dropped sharply from the 1,207–1,208 area and is now attempting a small bounce. For me, sellers have the short-term advantage, but I want to see whether this rebound gets rejected before considering another move lower.
Price is trading below the MA60 at 1,208.38, which is still sloping downward. The recent drop reached approximately 1,204.00 before price recovered slightly. Although ZEC is up 4.26% over 24 hours, the immediate movement shown on this chart is bearish.
The key zone I’m watching is 1,207.15–1,208.38. If price rebounds into this area and gets rejected, a bearish continuation becomes more interesting. I wouldn’t chase the current drop without confirmation.
📍 Entry: 1,207.15–1,208.20 after a confirmed rejection 🎯 TP1: 1,204.00 — recent visible low area 🎯 TP2: Not enough chart evidence to set another reliable target 🎯 TP3: No clear level visible 🛑 Invalidation: Above 1,208.38 (MA60)
If price reclaims and holds above 1,208.38, I’d step away from this short setup because the bearish structure could be weakening.
My take: I’m waiting for a retest and rejection rather than entering blindly after a sharp drop.
I’m watching ZEC around 1,204.95 because the price has dropped sharply from the 1,207–1,208 area and is now attempting a small bounce. For me, sellers have the short-term advantage, but I want to see whether this rebound gets rejected before considering another move lower.
Price is trading below the MA60 at 1,208.38, which is still sloping downward. The recent drop reached approximately 1,204.00 before price recovered slightly. Although ZEC is up 4.26% over 24 hours, the immediate movement shown on this chart is bearish.
The key zone I’m watching is 1,207.15–1,208.38. If price rebounds into this area and gets rejected, a bearish continuation becomes more interesting. I wouldn’t chase the current drop without confirmation.
📍 Entry: 1,207.15–1,208.20 after a confirmed rejection 🎯 TP1: 1,204.00 — recent visible low area 🎯 TP2: Not enough chart evidence to set another reliable target 🎯 TP3: No clear level visible 🛑 Invalidation: Above 1,208.38 (MA60)
If price reclaims and holds above 1,208.38, I’d step away from this short setup because the bearish structure could be weakening.
My take: I’m waiting for a retest and rejection rather than entering blindly after a sharp drop.