đš $ZEC IS DUMPING AS FAST AS IT PUMPED.
Something has clearly changed in $ZECâs momentum since it broke above $1,300. The rally has lost steam, and Zcash is now down more than 18% in October.
Iâve repeatedly warned traders not to chase the hype or blindly open LONG positions after such an aggressive rally. Price going parabolic doesnât mean it can only go higher.
Now, the chart is sending another warning: $ZEC has lost the critical $1,240â$1,260 support zone.
If bulls fail to reclaim this area, Iâm watching $1,020 as the first downside target, followed by $800 if selling pressure continues.
Donât get trapped buying the dip just because the price looks cheaper. Until $ZEC reclaims its lost support and shows real strength, downside risk remains on the table.
Protect your capital. Donât chase the hype. đš
ZECUSDT
Perp
1,226.54
-0.4%
Something has clearly changed in $ZECâs momentum since it broke above $1,300. The rally has lost steam, and Zcash is now down more than 18% in October.
Iâve repeatedly warned traders not to chase the hype or blindly open LONG positions after such an aggressive rally. Price going parabolic doesnât mean it can only go higher.
Now, the chart is sending another warning: $ZEC has lost the critical $1,240â$1,260 support zone.
If bulls fail to reclaim this area, Iâm watching $1,020 as the first downside target, followed by $800 if selling pressure continues.
Donât get trapped buying the dip just because the price looks cheaper. Until $ZEC reclaims its lost support and shows real strength, downside risk remains on the table.
Protect your capital. Donât chase the hype. đš
ZECUSDT
Perp
1,226.54
-0.4%