🚨 $ZEC SHORT SETUP (on bounce) 🚨
ZEC is breaking down from its $1,698 peak while Bitcoin rallies, with ETF money leaving and the privacy coin tied to the Bitget hack headlines. 📉
I'm watching for a SHORT on a bounce into resistance rather than chasing the current candle.
Entry: $1,350 – $1,420
TP1: $1,255
TP2: $1,200
TP3: $1,100
SL: $1,495
🔻 Why ZEC is on watch
Trading around $1,290–$1,370, about 21–24% below the $1,698 peak and down roughly 11–16% on the week Grayscale's ZCSH ETF posted $30.25M in outflows on Sept. 30 and $28.26M on Oct 1, after strong inflows in September ZEC fell 3.6% on Oct 2 while BTC rose about 3%, so it's showing relative weakness Stolen funds from the Sept. 24 Bitget hack moved through its shielded pool, which has weighed on sentiment The $1,330 support is breaking, and the next supports are $1,254 (200-period EMA) and $1,233 Resistance sits at $1,349–$1,361, $1,410–$1,425 (100 EMA) and $1,459–$1,494$ZEC
ZEC is breaking down from its $1,698 peak while Bitcoin rallies, with ETF money leaving and the privacy coin tied to the Bitget hack headlines. 📉
I'm watching for a SHORT on a bounce into resistance rather than chasing the current candle.
Entry: $1,350 – $1,420
TP1: $1,255
TP2: $1,200
TP3: $1,100
SL: $1,495
🔻 Why ZEC is on watch
Trading around $1,290–$1,370, about 21–24% below the $1,698 peak and down roughly 11–16% on the week Grayscale's ZCSH ETF posted $30.25M in outflows on Sept. 30 and $28.26M on Oct 1, after strong inflows in September ZEC fell 3.6% on Oct 2 while BTC rose about 3%, so it's showing relative weakness Stolen funds from the Sept. 24 Bitget hack moved through its shielded pool, which has weighed on sentiment The $1,330 support is breaking, and the next supports are $1,254 (200-period EMA) and $1,233 Resistance sits at $1,349–$1,361, $1,410–$1,425 (100 EMA) and $1,459–$1,494$ZEC