$ZEC : Relief Bounce or Another Rejection? đ
Zcash is trying to stabilize after a sharp sell-off, but Iâm not convinced the downtrend is over yet.
On the 4H chart, ZEC is trading around 1,223.04, after bouncing from the 1,112.06 low. Price is still below MA(25) at 1,240.91 and well below MA(99) at 1,383.58, so the bigger picture remains under pressure.
Hereâs the setup Iâm watching:
ZECUSDT â Potential LONG đ
đ Entry: 1,215â1,225
đ SL: 1,195
đŻ TP1: 1,241
đŻ TP2: 1,270
đŻ TP3: 1,300
â± Timeframe: 4H
I want to see buyers reclaim the 1,240â1,241 resistance zone before getting too confident. A rejection there could send price back toward the recent consolidation area, while a break below 1,195 would invalidate this long idea.
Personally, Iâm watching the reaction around MA(25) rather than chasing a small bounce. If buyers show real strength, there could be room for a recovery â but confirmation comes first.
Whatâs your move on ZEC here: LONG for a recovery or SHORT on another rejection?
$MAGIC
$STRK
Zcash is trying to stabilize after a sharp sell-off, but Iâm not convinced the downtrend is over yet.
On the 4H chart, ZEC is trading around 1,223.04, after bouncing from the 1,112.06 low. Price is still below MA(25) at 1,240.91 and well below MA(99) at 1,383.58, so the bigger picture remains under pressure.
Hereâs the setup Iâm watching:
ZECUSDT â Potential LONG đ
đ Entry: 1,215â1,225
đ SL: 1,195
đŻ TP1: 1,241
đŻ TP2: 1,270
đŻ TP3: 1,300
â± Timeframe: 4H
I want to see buyers reclaim the 1,240â1,241 resistance zone before getting too confident. A rejection there could send price back toward the recent consolidation area, while a break below 1,195 would invalidate this long idea.
Personally, Iâm watching the reaction around MA(25) rather than chasing a small bounce. If buyers show real strength, there could be room for a recovery â but confirmation comes first.
Whatâs your move on ZEC here: LONG for a recovery or SHORT on another rejection?
$MAGIC
$STRK