#zec broke below the 200-period EMA (around $1,287) on the 4-hour chart, which has now become an important resistance level. If the price continues to fail to climb back above it, the short-term outlook remains weak.
Meanwhile, the 50-period moving average, around $1,355, is moving down toward the 200-period moving average. A “death cross” could signal further pressure ahead.
The MACD remains below its signal line, and the RSI is around 33, nearing oversold territory. However, this doesn’t mean the price is about to bottom out.
Meanwhile, the 50-period moving average, around $1,355, is moving down toward the 200-period moving average. A “death cross” could signal further pressure ahead.
The MACD remains below its signal line, and the RSI is around 33, nearing oversold territory. However, this doesn’t mean the price is about to bottom out.