$ZEC bears 4.9% and targets 1,368: breakout or bounce?
$ZEC trades at US$1,307, after a 4.90% drop in 24h and a 15.78% decline in 7 days.
In the 24h range, it moved between US$1,271 and US$1,380. The EMA20 is at 1,360 and the EMA50 at 1,424, with a bearish trend on the 4h. The RSI14 at 37.7 shows selling pressure.
The key support is 1,271; the main resistances are 1,368 and 1,435. In Binance futures, the funding is +0.0100% and open interest fell 5.6% in 24h, though 46% of accounts are still long.
Bullish scenario: a clear breakout above 1,368 would open the way to the next resistance at 1,435; it would be invalidated if the price closes again below 1,271. Bearish scenario: a drop below 1,271 would trigger selling pressure that could push the pair toward lower levels, and it would be invalidated if it recovers and closes above 1,368.
I wouldn’t enter now—it smells like a trap with positive funding and bearish pressure. Does it break 1,368 or return to 1,271? 🟢/🔴
#ZEC #Zcash #Futures
Not financial advice. Verify before investing.
$ZEC trades at US$1,307, after a 4.90% drop in 24h and a 15.78% decline in 7 days.
In the 24h range, it moved between US$1,271 and US$1,380. The EMA20 is at 1,360 and the EMA50 at 1,424, with a bearish trend on the 4h. The RSI14 at 37.7 shows selling pressure.
The key support is 1,271; the main resistances are 1,368 and 1,435. In Binance futures, the funding is +0.0100% and open interest fell 5.6% in 24h, though 46% of accounts are still long.
Bullish scenario: a clear breakout above 1,368 would open the way to the next resistance at 1,435; it would be invalidated if the price closes again below 1,271. Bearish scenario: a drop below 1,271 would trigger selling pressure that could push the pair toward lower levels, and it would be invalidated if it recovers and closes above 1,368.
I wouldn’t enter now—it smells like a trap with positive funding and bearish pressure. Does it break 1,368 or return to 1,271? 🟢/🔴
#ZEC #Zcash #Futures
Not financial advice. Verify before investing.
