$ZEC H1 — STRONG RECOVERY, BUT STILL FIGHTING UNDER 1.4K
ZEC is hovering around 1,383 after going through a very volatile move from the 1,445 area down to 1,305, then bouncing back up to nearly 1,400.
The H1 structure is clearly showing that buying pressure has returned. In particular, the bullish candle from the 1,337 area up to 1,400 comes with extremely high volume, indicating strong capital inflow as price recovers.
However, 1,390–1,400 is an important resistance zone. ZEC has repeatedly approached this area but hasn’t been able to sustain above it, so it hasn’t been confirmed as a breakout yet.
If price holds the 1,370–1,380 zone and continues to form a higher low, the short-term recovery structure will remain positive. Then, the likelihood of returning to test 1,400 will be more notable.
On the other hand, if ZEC loses 1,370 and closes the H1 below this level, the recovery force may weaken and price could return to test the 1,330–1,350 area.
What I’m paying attention to is that the bounce’s volume increased very sharply, but after reaching 1,400, volume gradually fades and price starts ranging around 1,380. This suggests the market is absorbing sell supply after the strong rebound, instead of continuing to rise in a straight line.
Therefore, the 1,370–1,400 zone is a fairly clear decision area. Holding a higher low and reclaiming 1,400 will strengthen the H1 structure, while losing 1,370 would require a more cautious evaluation of the rebound.
No FOMO. Wait for confirmation.
$ZEC
ZEC is hovering around 1,383 after going through a very volatile move from the 1,445 area down to 1,305, then bouncing back up to nearly 1,400.
The H1 structure is clearly showing that buying pressure has returned. In particular, the bullish candle from the 1,337 area up to 1,400 comes with extremely high volume, indicating strong capital inflow as price recovers.
However, 1,390–1,400 is an important resistance zone. ZEC has repeatedly approached this area but hasn’t been able to sustain above it, so it hasn’t been confirmed as a breakout yet.
If price holds the 1,370–1,380 zone and continues to form a higher low, the short-term recovery structure will remain positive. Then, the likelihood of returning to test 1,400 will be more notable.
On the other hand, if ZEC loses 1,370 and closes the H1 below this level, the recovery force may weaken and price could return to test the 1,330–1,350 area.
What I’m paying attention to is that the bounce’s volume increased very sharply, but after reaching 1,400, volume gradually fades and price starts ranging around 1,380. This suggests the market is absorbing sell supply after the strong rebound, instead of continuing to rise in a straight line.
Therefore, the 1,370–1,400 zone is a fairly clear decision area. Holding a higher low and reclaiming 1,400 will strengthen the H1 structure, while losing 1,370 would require a more cautious evaluation of the rebound.
No FOMO. Wait for confirmation.
$ZEC
