Looking at the daily candle for $ZEC , it surged +13.25% from the low of 1.124 to 1.273—"it makes my heart ache"! Anyone who managed to buy the dip around 1.1x yesterday is doing pretty well today. 🥲
However, the order book clearly shows a "wall" of sellers lying in wait:
• Sellers are completely dominant: 77.90% versus just 22.10% buyers.
• Price is retesting the EMA25 (1.243). It has moved above it, but there’s enormous resistance.
Quick take:
ZEC has had an absolutely massive rally (from 465 to 1.698). The recent drop to 1.1x was a pretty nice pullback and consolidation phase. Today, price bounced back, but it’s now facing an important resistance level.
If it breaks through the 1.300–1.400 zone on high volume, ZEC could keep flying. But if that 77% sell wall pushes it down, it could easily form a "Bull Trap" and lure everyone into FOMO.
If you missed this train, don’t rush to buy at the top. Be patient and wait for a retest of the 1.200 support zone for a safer entry point! 🚀👇
#zec #Zcash
However, the order book clearly shows a "wall" of sellers lying in wait:
• Sellers are completely dominant: 77.90% versus just 22.10% buyers.
• Price is retesting the EMA25 (1.243). It has moved above it, but there’s enormous resistance.
Quick take:
ZEC has had an absolutely massive rally (from 465 to 1.698). The recent drop to 1.1x was a pretty nice pullback and consolidation phase. Today, price bounced back, but it’s now facing an important resistance level.
If it breaks through the 1.300–1.400 zone on high volume, ZEC could keep flying. But if that 77% sell wall pushes it down, it could easily form a "Bull Trap" and lure everyone into FOMO.
If you missed this train, don’t rush to buy at the top. Be patient and wait for a retest of the 1.200 support zone for a safer entry point! 🚀👇
#zec #Zcash