$ZEC tried to break out yesterday, tagged 1349 and got rejected hard. Then the overnight dump took it all the way to 1123 😅
Bounced back to 1225 but now it's fading again around 1197, and it's still sitting under both EMAs on the 4H.
For me 1110 to 1120 is the line. That's the Oct 8 low and last night's wick. Lose that on a 4H close and I think it gets ugly.
Upside I want to see it reclaim 1270 first, that's where the 50 EMA is too. Close above that and the bounce actually means something, until then it's just chop in a downtrend honestly.
Anyone trading ZEC here or just watching? 👀
Just my read, not financial advice
#ZEC #Zcash #CryptoAnalysis
Bounced back to 1225 but now it's fading again around 1197, and it's still sitting under both EMAs on the 4H.
For me 1110 to 1120 is the line. That's the Oct 8 low and last night's wick. Lose that on a 4H close and I think it gets ugly.
Upside I want to see it reclaim 1270 first, that's where the 50 EMA is too. Close above that and the bounce actually means something, until then it's just chop in a downtrend honestly.
Anyone trading ZEC here or just watching? 👀
Just my read, not financial advice
#ZEC #Zcash #CryptoAnalysis