$ZEC : A Failed Breakout Could Trigger Another Selloff
ZEC's recent rally toward $1,325 may be facing an important test.
After a strong upward move, price reportedly encountered selling pressure near resistance and slipped back below $1,300.
That raises the possibility of a failed breakout.
ZECUSDT Perpetual | SHORT
Reference Price: $1,286.98
Take Profit: $1,178.80
Stop Loss: $1,334.60
The bearish thesis depends on sellers maintaining control below $1,300.
If the rejection continues, trapped late buyers and renewed selling pressure could contribute to a deeper pullback toward $1,178.80.
However, a sustained recovery above the recent high would weaken the setup, with $1,334.60 marking the planned invalidation level.
A rejection is a warning, not confirmation of a breakdown.
Would you wait for another failed retest of $1,300 or look for a confirmed move lower?
$ZEC
#Zcash #cryptotrading
ZEC's recent rally toward $1,325 may be facing an important test.
After a strong upward move, price reportedly encountered selling pressure near resistance and slipped back below $1,300.
That raises the possibility of a failed breakout.
ZECUSDT Perpetual | SHORT
Reference Price: $1,286.98
Take Profit: $1,178.80
Stop Loss: $1,334.60
The bearish thesis depends on sellers maintaining control below $1,300.
If the rejection continues, trapped late buyers and renewed selling pressure could contribute to a deeper pullback toward $1,178.80.
However, a sustained recovery above the recent high would weaken the setup, with $1,334.60 marking the planned invalidation level.
A rejection is a warning, not confirmation of a breakdown.
Would you wait for another failed retest of $1,300 or look for a confirmed move lower?
$ZEC
#Zcash #cryptotrading
