People who thought $ZEC was holding steady just a couple of days ago must be feeling pretty rough today. It’s down 14.14% in a day, now at 984.14, after plunging all the way from 1,199.8. It’s just a step away from the 24-hour low of 961.07.
Those holding it are in a real bind: sell here and risk selling at the bottom; hold on and risk it failing to stay above even 961.07. The 24-hour trading volume is 281.8M, and sellers are really piling on—it’s not just a quiet drift down with nobody paying attention.
I’m leaning toward watching for a short, but not chasing one right now: I’d wait to see if it meets resistance on a rebound near 1,080.4 (the 24-hour midpoint). I’ll change my mind if it gets back above 1,199.8. I’m looking at a target near 901.3, with a risk-reward ratio of about 1.5. Risk level: high.
At this point, do you think shorting is going with the trend, or are we already chasing it?
For reference only, not investment advice. Manage your position size carefully.
$ZEC
#ZEC #Trading Opportunity
Those holding it are in a real bind: sell here and risk selling at the bottom; hold on and risk it failing to stay above even 961.07. The 24-hour trading volume is 281.8M, and sellers are really piling on—it’s not just a quiet drift down with nobody paying attention.
I’m leaning toward watching for a short, but not chasing one right now: I’d wait to see if it meets resistance on a rebound near 1,080.4 (the 24-hour midpoint). I’ll change my mind if it gets back above 1,199.8. I’m looking at a target near 901.3, with a risk-reward ratio of about 1.5. Risk level: high.
At this point, do you think shorting is going with the trend, or are we already chasing it?
For reference only, not investment advice. Manage your position size carefully.
$ZEC
#ZEC #Trading Opportunity