$ZEC 24-hour low, current price 1150.45, previous low 1172.
Three common scenarios after a new low:
① A rebound reaches the previous low and gets pushed back down: the decline continues.
② Price moves sideways near the previous low: a period of turnover as the market decides its direction.
③ Price quickly recovers above the previous low and holds: a false breakdown.
For now, price is below the previous low, so the first thing to watch is whether scenario ① or ② plays out.
Three common scenarios after a new low:
① A rebound reaches the previous low and gets pushed back down: the decline continues.
② Price moves sideways near the previous low: a period of turnover as the market decides its direction.
③ Price quickly recovers above the previous low and holds: a false breakdown.
For now, price is below the previous low, so the first thing to watch is whether scenario ① or ② plays out.