Bulls and bears are already clashing at this level. $ZEC dropped 1.93% in just one hour, to 1,294.8, leaving it just a small step above the 24-hour low of 1,278.2.
It’s still up 0.69% over 24 hours, but that sharp drop in the past hour has left everyone who was just about to chase the rally stuck halfway in—holders are worried it’ll break below the low, while those on the sidelines fear missing a rebound. This kind of neither-here-nor-there position is the most nerve-racking.
Honestly, I’d rather wait and see for now. As long as 1,278.2 holds, this sharp drop over the past hour can still be considered a pullback. But if it really breaks below 1,278.2, I’ll change my tune immediately—that wouldn’t be a shakeout; it would mean the price is heading lower.
$ZEC is hovering right around 1,278.2. Do you think it’s about to break below the low, or is this just a one-hour fake-out?
$ZEC
#ZEC #MarketAnalysis
It’s still up 0.69% over 24 hours, but that sharp drop in the past hour has left everyone who was just about to chase the rally stuck halfway in—holders are worried it’ll break below the low, while those on the sidelines fear missing a rebound. This kind of neither-here-nor-there position is the most nerve-racking.
Honestly, I’d rather wait and see for now. As long as 1,278.2 holds, this sharp drop over the past hour can still be considered a pullback. But if it really breaks below 1,278.2, I’ll change my tune immediately—that wouldn’t be a shakeout; it would mean the price is heading lower.
$ZEC is hovering right around 1,278.2. Do you think it’s about to break below the low, or is this just a one-hour fake-out?
$ZEC
#ZEC #MarketAnalysis