ZEC down 7% but daily RSI still at 71 — is this a healthy pullback or the start of something bigger? 📊
Let's look at the numbers: $308.5M volume (solid), price at $1,177, RSI 4H at 50.7 (neutral). Daily RSI at 71.3 — that's overbought territory, which makes this correction feel overdue and healthy.
Why This Trade?
4H chart shows uptrend intact despite the 7% drop. Price is above SMA25 4H ($1,195) and well above daily SMA99 ($573). The daily RSI at 71 suggests we were due for a cooldown. This looks like profit-taking, not trend reversal.
Trading Plan (SHORT-term counter-trend):
🎯 Entry: $1,153 - $1,202 (current pullback zone)
🛑 Stop Loss: $1,275 (above recent high — if price breaks this, short is invalidated)
✅ Take Profit: $1,119 (TP1) / $1,084 (TP2) / $1,038 (TP3)
Risk/Reward: 0.6R (low because we're fighting the daily uptrend)
Why short? Because daily RSI at 71 is overbought and we might see another 5-8% correction before the next leg up. But this is counter-trend trading — use small size and tight stops.
Real talk: ZEC at $1,177 after a massive run — are you taking profits here or holding for $1,500? Let me know 👇
#ZEC #Privacy #DYOR
⚠️ Disclaimer: This is not financial advice. Crypto trading involves substantial risk. Always DYOR and never invest more than you can afford to lose.