4H chart. Price is at $1,320 after breaking above the descending trendline.
Context:
ZEC has been making higher lows since mid-October and has now pushed through the trendline that capped it since the 12th. The old trendline is now sitting around $1,289 as support.
Levels I'm watching:
🔴 $1,377 – next resistance
🔴 $1,522 – the big one above
🟢 $1,289 – retest zone (old trendline)
🟢 $1,215 – key support
🟢 ~$1,121 – line in the sand
My read:
As long as $1,289 holds on a retest, I'm looking for $1,377 next. Clear that and $1,522 is in play.
The risk:
A 4H close back under the trendline makes this a fake breakout, and $1,215 comes back fast. It's Fed day too, so keep a stop.
Holding the breakout or fading it? 👇
ZECUSDT
Perp
1,248.6
-1.89%
