🚨 $ZEC lost 29% in 12 days, while the market is celebrating a bounce.
From its peak of $1698, Zcash has lost almost a third. Today’s 5% gain following news about protection against quantum attacks (developers want to add it by January) looks like a typical bounce, not a reversal.
Supertrend is red, MACD is below zero, and EMA 7 is below EMA 25. RSI(6) is around 29, so a bounce was expected, but RSI(24) is at 50 and there’s still no sign of a bottom. On top of that, the Grayscale ETF has seen outflows for a second day, and the price is below the 4-hour EMA 200 (1287).
🎯Setup:
Entry: 1250 – 1290
SL: 1360
TP1: 1165
TP2: 1080
TP3: 933
Do you think the quantum news will reverse ZEC’s trend, or is this just a pause before another wave down?
#zcash #crypto #Trading
From its peak of $1698, Zcash has lost almost a third. Today’s 5% gain following news about protection against quantum attacks (developers want to add it by January) looks like a typical bounce, not a reversal.
Supertrend is red, MACD is below zero, and EMA 7 is below EMA 25. RSI(6) is around 29, so a bounce was expected, but RSI(24) is at 50 and there’s still no sign of a bottom. On top of that, the Grayscale ETF has seen outflows for a second day, and the price is below the 4-hour EMA 200 (1287).
🎯Setup:
Entry: 1250 – 1290
SL: 1360
TP1: 1165
TP2: 1080
TP3: 933
Do you think the quantum news will reverse ZEC’s trend, or is this just a pause before another wave down?
#zcash #crypto #Trading