Part five: Let’s look at the chart. On the daily chart, ZEC has been stuck between 1,180 and 1,270 for the past three days.
The moving averages are squeezing it from above and below. The 20-day MA is at 1,203, providing support below; the 50-day MA is at 1,303, pressing down from above. The current price is caught right in the middle.
RSI is at 50—neither overbought nor oversold. The 14-day average daily range is around $110, wider than the entire range here, so the price could travel from one end to the other in a single day.
The first resistance above is 1,268. It surged there last night but couldn’t hold. Next is 1,368, where the October 21 rally reversed after hitting its high.
Below, watch 1,180 first. Buyers stepped in around 1,176–1,182 on both Sunday and Monday, and several dips failed to break below that zone.
Volume is shrinking on the 1-hour chart. This afternoon’s rebound to 1,244 came on less than half the volume of last night’s push to 1,268.
So the chart has no clear direction—just a range. Chasing moves in the middle of the range is basically paying fees for someone else.
Which level do you think will break first: 1,180 or 1,268?
$ZEC #Zcash
These are just my personal thoughts and do not constitute investment advice.
The moving averages are squeezing it from above and below. The 20-day MA is at 1,203, providing support below; the 50-day MA is at 1,303, pressing down from above. The current price is caught right in the middle.
RSI is at 50—neither overbought nor oversold. The 14-day average daily range is around $110, wider than the entire range here, so the price could travel from one end to the other in a single day.
The first resistance above is 1,268. It surged there last night but couldn’t hold. Next is 1,368, where the October 21 rally reversed after hitting its high.
Below, watch 1,180 first. Buyers stepped in around 1,176–1,182 on both Sunday and Monday, and several dips failed to break below that zone.
Volume is shrinking on the 1-hour chart. This afternoon’s rebound to 1,244 came on less than half the volume of last night’s push to 1,268.
So the chart has no clear direction—just a range. Chasing moves in the middle of the range is basically paying fees for someone else.
Which level do you think will break first: 1,180 or 1,268?
$ZEC #Zcash
These are just my personal thoughts and do not constitute investment advice.
