Is the rally of $ZEC continuing, or has it approached a correction? ๐
ZEC is at $1,142 after a strong rise, and the key resistance level now is $1,177โ$1,214.
A breakout above $1,177 with strong volume โ a chance for the rally to continue.
Failure at resistance โ a possible correction toward $1,050, then $1,000.
Current trading volume is lower than the initial explosive volumes that accompanied the breakout.
This does not mean the trend is over, but it makes entering now at $1,140 less safe than waiting for a pullback.
The overall trend is still upward, but entering now after this rise carries higher risk.
Best approach: wait for a confirmed breakout or a pullback to enter
#zec $ZEC
ZEC is at $1,142 after a strong rise, and the key resistance level now is $1,177โ$1,214.
A breakout above $1,177 with strong volume โ a chance for the rally to continue.
Failure at resistance โ a possible correction toward $1,050, then $1,000.
Current trading volume is lower than the initial explosive volumes that accompanied the breakout.
This does not mean the trend is over, but it makes entering now at $1,140 less safe than waiting for a pullback.
The overall trend is still upward, but entering now after this rise carries higher risk.
Best approach: wait for a confirmed breakout or a pullback to enter
#zec $ZEC
