ZEC/USDT Technical Analysis: Consolidation After a Strong Rally
ZEC is trading around $1,345 on the daily chart after reaching a recent high near $1,698. The price has pulled back and is currently consolidating around the MA7 ($1,345) while remaining below the MA25 ($1,403).
The key level to watch is $1,217 support. If ZEC holds above this area, the current move could develop into another bullish continuation. A break above $1,403 would strengthen the short-term structure, with $1,488 and then $1,698 as major resistance zones.
On the downside, a daily close below $1,217 could increase selling pressure toward $1,050, followed by the $946 area. The long-term trend remains relatively strong while price stays well above the MA99 (~$824).
Key levels:
🟢 Support: $1,217 → $1,050 → $946
🔴 Resistance: $1,403 → $1,488 → $1,698
Overall, ZEC remains technically constructive, but confirmation above resistance or a strong hold at support is important before expecting the next major move.
#ZEC #zcash #BinanceSquare $ZEC
#DYOR🟢
ZEC is trading around $1,345 on the daily chart after reaching a recent high near $1,698. The price has pulled back and is currently consolidating around the MA7 ($1,345) while remaining below the MA25 ($1,403).
The key level to watch is $1,217 support. If ZEC holds above this area, the current move could develop into another bullish continuation. A break above $1,403 would strengthen the short-term structure, with $1,488 and then $1,698 as major resistance zones.
On the downside, a daily close below $1,217 could increase selling pressure toward $1,050, followed by the $946 area. The long-term trend remains relatively strong while price stays well above the MA99 (~$824).
Key levels:
🟢 Support: $1,217 → $1,050 → $946
🔴 Resistance: $1,403 → $1,488 → $1,698
Overall, ZEC remains technically constructive, but confirmation above resistance or a strong hold at support is important before expecting the next major move.
#ZEC #zcash #BinanceSquare $ZEC
#DYOR🟢
