$ZEC: A weak bounce leaves room for further downside
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The main scenario is a continuation of the correction. Several attempts to break above the range’s upper boundary failed to gain traction. Buyers have not yet managed to regain control.
Another factor is the cluster of nearby daily lows. Buyers often place protective orders below such levels, and a break below them can accelerate the decline. Part of the move down has already taken place.
The key overhead area is 1,260–1,350 USDT. If the price returns there, the sellers’ response will be important. While the price remains below 1,260, we continue to favor the bearish scenario.
Downside targets:
• 1,000 — first target;
• 800 — deeper scenario.
A recovery above 1,350 would weaken the bearish outlook. The 1,460–1,560 area is where we would reconsider the plan: initially, at 1,460, a position reduction was planned, and at 1,560, a full exit.
For now, we view the decline on lower timeframes as a correction within a broader weekly uptrend.
#ZEC #BTC #SOL
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The main scenario is a continuation of the correction. Several attempts to break above the range’s upper boundary failed to gain traction. Buyers have not yet managed to regain control.
Another factor is the cluster of nearby daily lows. Buyers often place protective orders below such levels, and a break below them can accelerate the decline. Part of the move down has already taken place.
The key overhead area is 1,260–1,350 USDT. If the price returns there, the sellers’ response will be important. While the price remains below 1,260, we continue to favor the bearish scenario.
Downside targets:
• 1,000 — first target;
• 800 — deeper scenario.
A recovery above 1,350 would weaken the bearish outlook. The 1,460–1,560 area is where we would reconsider the plan: initially, at 1,460, a position reduction was planned, and at 1,560, a full exit.
For now, we view the decline on lower timeframes as a correction within a broader weekly uptrend.
#ZEC #BTC #SOL