$ZEC
It’s still trending on the rankings. The market was very quiet on Sunday, so nobody expected a sudden pump early Monday morning. Even traders who specialize in holding losing positions can make back some of their losses. Price broke through 1299 today and may be heading for 1320.
4-hour chart: After peaking at 1697.45, price continued to fall, completing a deep correction. It has recently rebounded from its lows and is now at 1281.08. The short-term moving averages are turning upward, while RSI has reached 82, entering overbought territory. Resistance is at 1299.53, with key support at 1225. This is a recovery bounce following the decline; it has not yet reversed the broader downtrend, so there is still a risk of a second pullback after the rebound.
15-minute chart: After quickly surging to 1299.53, price eased back and is consolidating in the 1260–1299 range. RSI is at 79, and short-term bullish momentum has weakened somewhat. The price has met resistance after a small-scale surge and is now retesting support. Watch to see whether the 1260 support holds.
Overall outlook: This is a rebound within a downtrend, not a reversal. 1299 is strong short-term resistance; price needs to hold above it to continue higher. If it breaks below 1260, the rebound will most likely be over, and the downtrend will resume. Avoid chasing the rally; wait for a pullback to stabilize before reassessing.
#zec
It’s still trending on the rankings. The market was very quiet on Sunday, so nobody expected a sudden pump early Monday morning. Even traders who specialize in holding losing positions can make back some of their losses. Price broke through 1299 today and may be heading for 1320.
4-hour chart: After peaking at 1697.45, price continued to fall, completing a deep correction. It has recently rebounded from its lows and is now at 1281.08. The short-term moving averages are turning upward, while RSI has reached 82, entering overbought territory. Resistance is at 1299.53, with key support at 1225. This is a recovery bounce following the decline; it has not yet reversed the broader downtrend, so there is still a risk of a second pullback after the rebound.
15-minute chart: After quickly surging to 1299.53, price eased back and is consolidating in the 1260–1299 range. RSI is at 79, and short-term bullish momentum has weakened somewhat. The price has met resistance after a small-scale surge and is now retesting support. Watch to see whether the 1260 support holds.
Overall outlook: This is a rebound within a downtrend, not a reversal. 1299 is strong short-term resistance; price needs to hold above it to continue higher. If it breaks below 1260, the rebound will most likely be over, and the downtrend will resume. Avoid chasing the rally; wait for a pullback to stabilize before reassessing.
#zec