$ZEC The daily-chart consolidation range has completely broken down. I said on the Square on September 30 that there was a risk of a breakdown. Even if you’re buying the dip, you must set a stop-loss; don’t stubbornly hold on. If the first daily-chart consolidation range and all support levels have broken down, it’ll be difficult to recover in the short term. So if you’re looking to buy the dip, wait until it’s around 800.
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K线人生飞哥
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Purely from a technical perspective, has $ZEC topped out in the short term???
The trading desk behind the ZEC “dog group” is extremely brutal. It previously rose from $30 to $746, then fell from $746 to $184, making everyone think ZEC was finished. But then it surged from $184 to around 1700 now. For most retail investors, it’s hard to hold through it. So we don’t judge whether ZEC has topped out by lightly making assumptions—we only look at how the “dog group” trades, and analyze how long this correction might last and how big the pullback could be.
From a trading perspective, ZEC is currently around $1430. Above, watch the $1500 level. Below, the key focus is $1350–$1400.
This pullback is influenced on one hand by the weakness in BTC and the stock market. On the other hand, ZEC saw heavy volume at the high but still hasn’t managed to break through, which also suggests that disagreements between bulls and bears are intensifying.
At present, the daily chart is still within an ascending channel, but I’m not optimistic about making an immediate new high. Earlier on, there was heavy volume building momentum but it didn’t push the price higher. Combined with potential bearish divergence signals, we need to be alert to the risk of a double-top.
Refer to the image I shared. In the past two waves of上涨, the resistance areas were met with range-bound consolidation to absorb the pressure, and then a new round of trend began. This time, around 1700, it encountered resistance. After that correction, the current price action shows a move that has broken below the range. So purely from a technical standpoint, the $1350 area should ideally not break down effectively. If it does break, the time spent consolidating could be extended indefinitely, and the downside space for the pullback would also be larger. ZEC is a heavily controlled “strong-man” coin. Whether it’s truly a privacy coin is still hard to say. From a geek/idealist standpoint and blockchain technology, the truly anonymous privacy coin is $XMR .
If you want to play long positions or catch the dip, the key level below is still $1300–$1350. If it breaks down, you’ll have to leave—don’t hold on stubbornly.
The trading desk behind the ZEC “dog group” is extremely brutal. It previously rose from $30 to $746, then fell from $746 to $184, making everyone think ZEC was finished. But then it surged from $184 to around 1700 now. For most retail investors, it’s hard to hold through it. So we don’t judge whether ZEC has topped out by lightly making assumptions—we only look at how the “dog group” trades, and analyze how long this correction might last and how big the pullback could be.
From a trading perspective, ZEC is currently around $1430. Above, watch the $1500 level. Below, the key focus is $1350–$1400.
This pullback is influenced on one hand by the weakness in BTC and the stock market. On the other hand, ZEC saw heavy volume at the high but still hasn’t managed to break through, which also suggests that disagreements between bulls and bears are intensifying.
At present, the daily chart is still within an ascending channel, but I’m not optimistic about making an immediate new high. Earlier on, there was heavy volume building momentum but it didn’t push the price higher. Combined with potential bearish divergence signals, we need to be alert to the risk of a double-top.
Refer to the image I shared. In the past two waves of上涨, the resistance areas were met with range-bound consolidation to absorb the pressure, and then a new round of trend began. This time, around 1700, it encountered resistance. After that correction, the current price action shows a move that has broken below the range. So purely from a technical standpoint, the $1350 area should ideally not break down effectively. If it does break, the time spent consolidating could be extended indefinitely, and the downside space for the pullback would also be larger. ZEC is a heavily controlled “strong-man” coin. Whether it’s truly a privacy coin is still hard to say. From a geek/idealist standpoint and blockchain technology, the truly anonymous privacy coin is $XMR .
If you want to play long positions or catch the dip, the key level below is still $1300–$1350. If it breaks down, you’ll have to leave—don’t hold on stubbornly.