$ZEC a 1,208: Fall break or rebound?
$ZEC is trading at US$1,208, down -8.42% in 24h. The daily range is between 1,194 and 1,348.
In 4h the EMA20 is at 1,302 and the EMA50 at 1,346, indicating a bearish trend. The RSI14 at 29.4 suggests oversold conditions. In Binance futures, funding is +0.0100% and open interest fell 1.6%, with 50% of accounts in long positions. Also moving: $SOL (-2.9%) and $UNI (-2.6%).
Key support: 1,194. Resistances at 1,285 and 1,362. If it breaks above 1,285, the bullish scenario is confirmed and the next target would be 1,362. If it falls below 1,194, the decline intensifies and the next target would be 1,148 (approx.).
I wouldn’t enter now; it smells like a trap—the selling pressure remains and the RSI is low. Better to wait for a clear rebound signal.
Does it break 1,285 or return to 1,194? 🟢/🔴
#Zcash #BinanceFutures
Not financial advice. Verify before investing.
$ZEC is trading at US$1,208, down -8.42% in 24h. The daily range is between 1,194 and 1,348.
In 4h the EMA20 is at 1,302 and the EMA50 at 1,346, indicating a bearish trend. The RSI14 at 29.4 suggests oversold conditions. In Binance futures, funding is +0.0100% and open interest fell 1.6%, with 50% of accounts in long positions. Also moving: $SOL (-2.9%) and $UNI (-2.6%).
Key support: 1,194. Resistances at 1,285 and 1,362. If it breaks above 1,285, the bullish scenario is confirmed and the next target would be 1,362. If it falls below 1,194, the decline intensifies and the next target would be 1,148 (approx.).
I wouldn’t enter now; it smells like a trap—the selling pressure remains and the RSI is low. Better to wait for a clear rebound signal.
Does it break 1,285 or return to 1,194? 🟢/🔴
#Zcash #BinanceFutures
Not financial advice. Verify before investing.