$ZEC 🔥 ZEC/USDT: Regular correction or trend reversal?
After aggressive parabolic growth, Zcash (ZEC) predictably went to cooling, showing a decrease of 12.49% over the past 24 hours. The current price is $1369.55, and right now a decisive technical moment is being formed on the chart. 🔮 Possible scenarios:
🟢 Scenario 1: Retention of support (Rebound)
If buyers keep the MA(25) zone ($1346), we will have a technical rebound. The immediate goal for recovery is the MA(7) resistance at $1527.72. If successfully, a new attempt to storm the local maximum of $1698.00 is possible.
🔴 Scenario 2: Level Breakdown (Deep Correction)
If the daily candle confidently breaks through and closes below $1346, the structure of the local uptrend will be broken. This will open the way to a further rollback in search of new levels of liquidity (global support MA(99) is far below, at $756.88).
💡 Result: ZEC is at the perfect fork. The optimal trading strategy now is to wait for the price to react to the current support and not to enter the position until the daily candle closes.$ZEC
After aggressive parabolic growth, Zcash (ZEC) predictably went to cooling, showing a decrease of 12.49% over the past 24 hours. The current price is $1369.55, and right now a decisive technical moment is being formed on the chart. 🔮 Possible scenarios:
🟢 Scenario 1: Retention of support (Rebound)
If buyers keep the MA(25) zone ($1346), we will have a technical rebound. The immediate goal for recovery is the MA(7) resistance at $1527.72. If successfully, a new attempt to storm the local maximum of $1698.00 is possible.
🔴 Scenario 2: Level Breakdown (Deep Correction)
If the daily candle confidently breaks through and closes below $1346, the structure of the local uptrend will be broken. This will open the way to a further rollback in search of new levels of liquidity (global support MA(99) is far below, at $756.88).
💡 Result: ZEC is at the perfect fork. The optimal trading strategy now is to wait for the price to react to the current support and not to enter the position until the daily candle closes.$ZEC