**Technical Analysis | Zkash ($ZEC /USDT) – 4 Hours**
📉 ZEC dropped by about 21% from the 1,698$ peak after a rise exceeding 250%. The price is now near 1,388$ after bouncing from 1,305$.
📊 An almost double top formed, and the neckline was broken at 1,430$. The 1,380$ zone is now acting as a pivot support, and the rebound needs a close above 1,440$ to be confirmed.
🎯 **Levels:**
- 🟢 **Support:** 1,380$ ← 1,305$ ← 1,200$
- 🔴 **Resistance:** 1,440$ ← 1,480$ ← 1,560$
💰 **Pressure:** Outflows from the Grayscale ETF of about 30.25 million dollars,
⚖️ **Scenarios:**
- **Bullish:** A close above 1,440$ targets 1,480–1,560$.
- **Bearish:** A break below 1,305$ opens the way toward 1,200$.
⚠️ Technical analysis only, not financial advice.🐸
$ZEC
📉 ZEC dropped by about 21% from the 1,698$ peak after a rise exceeding 250%. The price is now near 1,388$ after bouncing from 1,305$.
📊 An almost double top formed, and the neckline was broken at 1,430$. The 1,380$ zone is now acting as a pivot support, and the rebound needs a close above 1,440$ to be confirmed.
🎯 **Levels:**
- 🟢 **Support:** 1,380$ ← 1,305$ ← 1,200$
- 🔴 **Resistance:** 1,440$ ← 1,480$ ← 1,560$
💰 **Pressure:** Outflows from the Grayscale ETF of about 30.25 million dollars,
⚖️ **Scenarios:**
- **Bullish:** A close above 1,440$ targets 1,480–1,560$.
- **Bearish:** A break below 1,305$ opens the way toward 1,200$.
⚠️ Technical analysis only, not financial advice.🐸
$ZEC