Current price $ZEC 1585, down 4.02% over the past 24 hours. The hourly chart broke directly below the lower Bollinger Band, with the Bollinger Bands opening downward. The RSI 6 indicator reached 19.77, entering a severely overbought/sold condition. The J value of the KDJ fell to -8.25, indicating bearish momentum in the short term and conditions for a technical rebound. The green MACD histogram continues to expand, but the downtrend has not ended completely; the oversold condition only suggests demand for a rebound, not a direct reversal.
Short-term resistance: 1620-1640; short-term support: 1550.
$BTC weakened in parallel, with high volatility followed by a pullback downward. The hourly indicators have also turned bearish, and no clear signal to halt the decline has appeared yet. Market sentiment is weak, and ZEC is closely following the market, with weak independent market performance.
$ETH is falling more than Bitcoin, showing greater resilience/strength. The bearish signal in MACD continues, linking the overall market movement, and it has not yet exited the independent support uptrend. The current window is a rebound period after overselling. Give priority to considering it a rebound rather than the start of a new round of gains. Rebounds will face pressure again at key resistance levels.
The above is just technical analysis of the market and does not constitute any investment advice.
#zec #ETH #BTC
Short-term resistance: 1620-1640; short-term support: 1550.
$BTC weakened in parallel, with high volatility followed by a pullback downward. The hourly indicators have also turned bearish, and no clear signal to halt the decline has appeared yet. Market sentiment is weak, and ZEC is closely following the market, with weak independent market performance.
$ETH is falling more than Bitcoin, showing greater resilience/strength. The bearish signal in MACD continues, linking the overall market movement, and it has not yet exited the independent support uptrend. The current window is a rebound period after overselling. Give priority to considering it a rebound rather than the start of a new round of gains. Rebounds will face pressure again at key resistance levels.
The above is just technical analysis of the market and does not constitute any investment advice.
#zec #ETH #BTC