ZEC said yesterday that if 1220 held on a retest, it could be a good entry. At 3 a.m. today, it really did plunge to 1219, then bounced right back. It’s now recovered to 1283 USDT, up five points from the entry level.
This is already the second time it’s found support at 1220. Yesterday morning, when a certain exchange was hacked, it plunged to 1218; then at 3 a.m. today, it hit 1219. Both times it touched the same level—there are buyers waiting down there.
It traded sideways around 1265 for several hours this afternoon, then climbed another step tonight. The price action is very steady.
What’s still supporting it is the major upgrade next Thursday, which will cut block times from 75 seconds to 25. It’s only a few days away from going live.
I’m leaning bullish. The 1260 area is the step it formed during this afternoon’s sideways trading. If it holds on a retest, you could consider entering. Above that, 1350 is where it surged to early yesterday morning before getting knocked back down; it needs to break above that level to really open up.
If it breaks below 1210, both of the floors that held twice will have given way, so step aside for now. #ZEC $ZEC
This is already the second time it’s found support at 1220. Yesterday morning, when a certain exchange was hacked, it plunged to 1218; then at 3 a.m. today, it hit 1219. Both times it touched the same level—there are buyers waiting down there.
It traded sideways around 1265 for several hours this afternoon, then climbed another step tonight. The price action is very steady.
What’s still supporting it is the major upgrade next Thursday, which will cut block times from 75 seconds to 25. It’s only a few days away from going live.
I’m leaning bullish. The 1260 area is the step it formed during this afternoon’s sideways trading. If it holds on a retest, you could consider entering. Above that, 1350 is where it surged to early yesterday morning before getting knocked back down; it needs to break above that level to really open up.
If it breaks below 1210, both of the floors that held twice will have given way, so step aside for now. #ZEC $ZEC
