For this ZEC rebound, I’m planning to place a short order at 1273
Since the end of September, ZEC has plunged from 1698 to 1074, a drop of over 36%. It’s now staging an oversold rebound between 1074 and 1246, but the medium-term downtrend structure remains unchanged.
The 1273–1288 zone above is an obvious area of strong resistance. A daily head-and-shoulders pattern has already formed, with the right shoulder near 1288—a textbook bearish formation. The moving averages are in a bearish alignment, and the MACD death cross is still in effect. A rebound into the resistance zone would be an opportunity to short at a higher price.
First, I’m watching the lower Bollinger Band at 1070. If that breaks, the next target is the previous low at 1008. I’ll place my stop at 1430, for an approximate risk-reward ratio of 1:2.
The news isn’t helping either: ZEC spot ETFs have seen outflows for the fifth time this month, with a daily net outflow of $14.76 million. Cumulative net inflows have fallen from $233 million to $164 million. Without new money coming in, the rebound is bound to be limited.
The broader market isn’t offering much support either. CPI and PPI have both come in above expectations, while Treasury yields and the U.S. dollar remain elevated. Small-cap privacy coins are more volatile, so when the broader market weakens, they tend to fall even harder.
So I’m only waiting for a rebound—I’m not chasing longs. $ZEC #ZEC
Since the end of September, ZEC has plunged from 1698 to 1074, a drop of over 36%. It’s now staging an oversold rebound between 1074 and 1246, but the medium-term downtrend structure remains unchanged.
The 1273–1288 zone above is an obvious area of strong resistance. A daily head-and-shoulders pattern has already formed, with the right shoulder near 1288—a textbook bearish formation. The moving averages are in a bearish alignment, and the MACD death cross is still in effect. A rebound into the resistance zone would be an opportunity to short at a higher price.
First, I’m watching the lower Bollinger Band at 1070. If that breaks, the next target is the previous low at 1008. I’ll place my stop at 1430, for an approximate risk-reward ratio of 1:2.
The news isn’t helping either: ZEC spot ETFs have seen outflows for the fifth time this month, with a daily net outflow of $14.76 million. Cumulative net inflows have fallen from $233 million to $164 million. Without new money coming in, the rebound is bound to be limited.
The broader market isn’t offering much support either. CPI and PPI have both come in above expectations, while Treasury yields and the U.S. dollar remain elevated. Small-cap privacy coins are more volatile, so when the broader market weakens, they tend to fall even harder.
So I’m only waiting for a rebound—I’m not chasing longs. $ZEC #ZEC