Honestly, $ZEC is up 2.75% over the past hour, and I’m not really sure what it’s trying to do.
It’s trading at 1,291.7, but it’s still down 2.25% over the past 24 hours, and not far above the 24-hour low of 1,213.3. A move up over one hour while still down over 24 hours is the most agonizing kind of price action: chase it and you’re afraid it’s a bull trap; sit it out and you’re afraid it’s really taking off.
I’m leaning toward waiting and watching for now. The one-hour move is too small to establish a clear direction. But if it can break above the 24-hour high of 1,333.3, I’ll change my mind right away—that would look like something real.
When it’s up over one hour but still down over 24 hours, do you believe in the rebound, or think it’s just catching its breath after falling too far?
#ZEC #MarketAnalysis
It’s trading at 1,291.7, but it’s still down 2.25% over the past 24 hours, and not far above the 24-hour low of 1,213.3. A move up over one hour while still down over 24 hours is the most agonizing kind of price action: chase it and you’re afraid it’s a bull trap; sit it out and you’re afraid it’s really taking off.
I’m leaning toward waiting and watching for now. The one-hour move is too small to establish a clear direction. But if it can break above the 24-hour high of 1,333.3, I’ll change my mind right away—that would look like something real.
When it’s up over one hour but still down over 24 hours, do you believe in the rebound, or think it’s just catching its breath after falling too far?
#ZEC #MarketAnalysis