$ZEC
has erased almost half of the dump. The midpoint is the whole story now.
ZEC fell from 1,382 to 1,113. Since the low it has clawed back about 45% of that drop and now trades at 1,235. The halfway mark of the whole fall is 1,247, just 1% above price.
Here's why it matters. Above the midpoint, buyers are winning the argument and a full retrace of the drop (1,382, about 12% from here) comes into play. Below it, this is just a bounce inside a downtrend. The dip after the low bottomed near 1,200, well above 1,176, so buyers have defended the lows so far.
My call: ZEC takes 1,247 on a 1h close and runs. If it gets rejected there again, I'd expect a retest of 1,215 before anything else.
One level, one decision. No need to overthink it.
Are you buying the break above 1,247 or waiting for a retest? Comment below đ
#ZEC #Zcash #CryptoAnalysis
has erased almost half of the dump. The midpoint is the whole story now.
ZEC fell from 1,382 to 1,113. Since the low it has clawed back about 45% of that drop and now trades at 1,235. The halfway mark of the whole fall is 1,247, just 1% above price.
Here's why it matters. Above the midpoint, buyers are winning the argument and a full retrace of the drop (1,382, about 12% from here) comes into play. Below it, this is just a bounce inside a downtrend. The dip after the low bottomed near 1,200, well above 1,176, so buyers have defended the lows so far.
My call: ZEC takes 1,247 on a 1h close and runs. If it gets rejected there again, I'd expect a retest of 1,215 before anything else.
One level, one decision. No need to overthink it.
Are you buying the break above 1,247 or waiting for a retest? Comment below đ
#ZEC #Zcash #CryptoAnalysis