$ZEC shows clear signs of a
double top pattern, having failed to close above the resistance level of $680 on the four-hour chart. This rejection led to a correction returning towards the neckline around $530, which now represents a critical support level for buyers.
If buyers can maintain this level, we may see a period of consolidation before another breakout attempt. However, losing this area could lead to a move towards the liquidity zone between $480 and $515, where the next major support level lies.
At this stage, the market appears to be seeking balance between buyers and sellers, paving the way for the next major move.
Key Levels
Resistance: $585 / $680
Support: $530 (neckline) / $500 /
$425
double top pattern, having failed to close above the resistance level of $680 on the four-hour chart. This rejection led to a correction returning towards the neckline around $530, which now represents a critical support level for buyers.
If buyers can maintain this level, we may see a period of consolidation before another breakout attempt. However, losing this area could lead to a move towards the liquidity zone between $480 and $515, where the next major support level lies.
At this stage, the market appears to be seeking balance between buyers and sellers, paving the way for the next major move.
Key Levels
Resistance: $585 / $680
Support: $530 (neckline) / $500 /
$425