I'm looking at $ZEC cooling down slightly at 1,170.89 after a sharp move up toward its local high near 1,174.05. The underlying structure remains bullish as price continues to trade well above the sloping MA60 line at 1,167.28.
Price is pulling back from the recent peak while staying significantly above its 24h low of 1,049.01. Buying directly into this minor pullback near local resistance at 1,174.05 is risky, so I'd like to see a deeper retest down toward the ascending MA60 support around 1,167.00 - 1,168.00 for a better risk-reward entry. A clear breakdown back below the moving average would signal fading momentum and invalidate the long setup.
Trade idea:
📍 Entry: 1,167.00 - 1,168.50
🎯 TP1: 1,174.00
🎯 TP2: 1,185.00
🎯 TP3: 1,191.76 (24h High retest)
🛑 Invalidation: 1,162.00
A drop below 1,162.00 breaks below the recent higher-low consolidation and signals a deeper retracement.
Waiting to see if buyers step up to defend the MA60 retest rather than chasing at the highs.
Price is pulling back from the recent peak while staying significantly above its 24h low of 1,049.01. Buying directly into this minor pullback near local resistance at 1,174.05 is risky, so I'd like to see a deeper retest down toward the ascending MA60 support around 1,167.00 - 1,168.00 for a better risk-reward entry. A clear breakdown back below the moving average would signal fading momentum and invalidate the long setup.
Trade idea:
📍 Entry: 1,167.00 - 1,168.50
🎯 TP1: 1,174.00
🎯 TP2: 1,185.00
🎯 TP3: 1,191.76 (24h High retest)
🛑 Invalidation: 1,162.00
A drop below 1,162.00 breaks below the recent higher-low consolidation and signals a deeper retracement.
Waiting to see if buyers step up to defend the MA60 retest rather than chasing at the highs.