ZEC is showing a notable shift in structure after breaking below its rising wedge, following a strong expansion into the $1,600+ region. What makes this setup more interesting is the bearish RSI divergence formed at the highs. While price pushed to a higher high, RSI produced a lower high, signalling weakening momentum before the breakdown.
Price is now consolidating below the broken structure. A recovery toward the $1,430â$1,480 Immediate Supply could act as a pullback into resistance before another bearish leg develops. If supply rejects price, the first major downside area sits around the $1,030â$1,080 Immediate Demand. Failure to hold that zone could expose the deeper $775â$850 Primary Demand Zone.
The bearish thesis weakens if ZEC reclaims $1,693, as that would place price back above the major resistance structure.
Will ZEC retest supply before the next correction, or will buyers reclaim the structure?
