๐ Spot Technical Analysis: ZEC/USDT on Binance ๐ข
Market analysis publication for your trading log and Binance Square:
๐ Key Market Data
๐ช Pair: ZEC/USDT (Zcash)
๐ต Current Price: 1.638,03 USDT (+11,41%)
๐ป๐ช P2P Reference Price: โ Bs 1.395.028,24
โ๏ธ Order Book Strength: 8,28% on Buys vs. 91,72% on Sells (strong selling pressure / profit-taking accumulation)
๐ Chart Reading and Moving Averages
๐ฉ Bullish Momentum: A powerful expansive green candle that drove the price from a low at 1.443,25 USDT up to a recent high at 1.647,22 USDT.
๐ Technical Structure:
MA(7): 1.525,73 USDT (immediate short-term dynamic support)
MA(25): 1.508,45 USDT (intermediate support)
MA(99): 1.283,17 USDT (main long-term trend support)
๐ก Technical Comment: Zcash shows aggressive bullish momentum with a strong volume expansion, strongly breaking above the previous support of the short-term moving average zone (MA7 and MA25 around $1.500 - $1.525 USDT). Even though the order book concentration shows a high 91,72% on the sell side (profit taking after the rally), the structure will hold continuity as long as it manages to defend the $1.600 USDT zone.
๐ฌ Do you think $ZEC will be able to maintain the momentum to break the resistance at $1.647 USDT, or will we see a retest of the MA(7) at $1.525? Leave your comments below! ๐
$ZEC BTCUSDT
Market analysis publication for your trading log and Binance Square:
๐ Key Market Data
๐ช Pair: ZEC/USDT (Zcash)
๐ต Current Price: 1.638,03 USDT (+11,41%)
๐ป๐ช P2P Reference Price: โ Bs 1.395.028,24
โ๏ธ Order Book Strength: 8,28% on Buys vs. 91,72% on Sells (strong selling pressure / profit-taking accumulation)
๐ Chart Reading and Moving Averages
๐ฉ Bullish Momentum: A powerful expansive green candle that drove the price from a low at 1.443,25 USDT up to a recent high at 1.647,22 USDT.
๐ Technical Structure:
MA(7): 1.525,73 USDT (immediate short-term dynamic support)
MA(25): 1.508,45 USDT (intermediate support)
MA(99): 1.283,17 USDT (main long-term trend support)
๐ก Technical Comment: Zcash shows aggressive bullish momentum with a strong volume expansion, strongly breaking above the previous support of the short-term moving average zone (MA7 and MA25 around $1.500 - $1.525 USDT). Even though the order book concentration shows a high 91,72% on the sell side (profit taking after the rally), the structure will hold continuity as long as it manages to defend the $1.600 USDT zone.
๐ฌ Do you think $ZEC will be able to maintain the momentum to break the resistance at $1.647 USDT, or will we see a retest of the MA(7) at $1.525? Leave your comments below! ๐
$ZEC BTCUSDT
