$ZEC has been grinding above 1300 for five days, and I’m starting to smell a shift in direction
Unknowingly, ZEC has been hovering around 1300+ for five days now, with little movement and low hype.
Honestly, this kind of sideways action is really hard to sit through, but after the wick down to 1270 was quickly bought back, price has been grinding back and forth between 1290 and 1360. Personally, I don’t think this is weakness; it’s just coiling up for a move.
1270 is the hard floor of this wave. The wick was immediately pulled back, which shows there are funds defending it. Those who are still holding short positions from around 1000 must have been staring at the chart after seeing the 1270 wick get bought back and the price go sideways, hoping for a move. Meanwhile, overhead resistance at 1360-1380 has been tested several times without breaking through, so selling pressure is still there.
In this kind of market, chasing pumps and dumping on dips is just handing out money. Before the range breaks, I’m leaning bullish near 1290-1300, with a stop-loss below 1270. If it reaches 1350-1360, take some profits first—don’t fantasize about a one-shot breakout. If it breaks above 1380 with volume, then follow the trend. If it drops below 1270, exit decisively.
Five days of sideways action means the market is waiting for direction. There’s not much need to gamble on direction right now.
If you’re still hesitating and unsure, you can come to the chat room. #ZECUSDT
Unknowingly, ZEC has been hovering around 1300+ for five days now, with little movement and low hype.
Honestly, this kind of sideways action is really hard to sit through, but after the wick down to 1270 was quickly bought back, price has been grinding back and forth between 1290 and 1360. Personally, I don’t think this is weakness; it’s just coiling up for a move.
1270 is the hard floor of this wave. The wick was immediately pulled back, which shows there are funds defending it. Those who are still holding short positions from around 1000 must have been staring at the chart after seeing the 1270 wick get bought back and the price go sideways, hoping for a move. Meanwhile, overhead resistance at 1360-1380 has been tested several times without breaking through, so selling pressure is still there.
In this kind of market, chasing pumps and dumping on dips is just handing out money. Before the range breaks, I’m leaning bullish near 1290-1300, with a stop-loss below 1270. If it reaches 1350-1360, take some profits first—don’t fantasize about a one-shot breakout. If it breaks above 1380 with volume, then follow the trend. If it drops below 1270, exit decisively.
Five days of sideways action means the market is waiting for direction. There’s not much need to gamble on direction right now.
If you’re still hesitating and unsure, you can come to the chat room. #ZECUSDT
