$ZEC is currently consolidating at elevated levels after a sharp rally. After bottoming at 1048, the bulls mounted a strong rebound. The moving averages are in a bullish alignment, and the trend is upward.
The chart shows that 1295 is a key recent high and presents resistance overhead. The area around 1258 was a previous zone of heavy trading, and support is currently holding. In terms of price and volume, the earlier rally came with increased volume, while the current pullback and consolidation have seen a marked decline in volume, indicating that selling pressure is not heavy.
Overall, the market is using sideways consolidation to shake out short-term holders and is waiting for the moving averages to converge as it builds momentum before choosing its next direction.
The above is solely my personal analysis and does not constitute investment advice.#股票财报季
The chart shows that 1295 is a key recent high and presents resistance overhead. The area around 1258 was a previous zone of heavy trading, and support is currently holding. In terms of price and volume, the earlier rally came with increased volume, while the current pullback and consolidation have seen a marked decline in volume, indicating that selling pressure is not heavy.
Overall, the market is using sideways consolidation to shake out short-term holders and is waiting for the moving averages to converge as it builds momentum before choosing its next direction.
The above is solely my personal analysis and does not constitute investment advice.#股票财报季