📉$ZEC DROPPED SHARPLY! BUT IS THERE A CHANCE OF A BOUNCE?
I took a look at the ZEC/USDT chart on the 4-hour timeframe. The picture is complicated right now.
The price has fallen to $1031, down around 11.6% over the past 24 hours. Sellers have pushed through key levels, and trading volume has surged.
Here’s what I see on the chart:
🔻 All three moving averages are above the current price. For now, this points to a bearish trend.
📍 Key levels:
* $994–1000 — nearest support.
* $974 — the next zone if sellers keep up the pressure.
* $1130 — the first level buyers need to reclaim.
* $1220–1250 — a strong resistance zone.
My forecast:
If the $1000 area holds, we could well see a technical bounce to $1100–1130.
But if the price settles below $994, the decline could continue toward $974 and lower.
Personally, I wouldn’t rush to buy just yet. First, I want to see a reaction from buyers and confirmation of a reversal.
That said, I wouldn’t write ZEC off. After moves like this, the market sometimes delivers very strong bounces.
What do you think: is this a temporary correction before another rally, or has ZEC not hit its bottom yet? 👇
#ZEC
I took a look at the ZEC/USDT chart on the 4-hour timeframe. The picture is complicated right now.
The price has fallen to $1031, down around 11.6% over the past 24 hours. Sellers have pushed through key levels, and trading volume has surged.
Here’s what I see on the chart:
🔻 All three moving averages are above the current price. For now, this points to a bearish trend.
📍 Key levels:
* $994–1000 — nearest support.
* $974 — the next zone if sellers keep up the pressure.
* $1130 — the first level buyers need to reclaim.
* $1220–1250 — a strong resistance zone.
My forecast:
If the $1000 area holds, we could well see a technical bounce to $1100–1130.
But if the price settles below $994, the decline could continue toward $974 and lower.
Personally, I wouldn’t rush to buy just yet. First, I want to see a reaction from buyers and confirmation of a reversal.
That said, I wouldn’t write ZEC off. After moves like this, the market sometimes delivers very strong bounces.
What do you think: is this a temporary correction before another rally, or has ZEC not hit its bottom yet? 👇
#ZEC
