$ZEC
OMG sooo Frustrating ! Geopolitics? Manipulation?
either way #zec got rejected at the same wall twice, and gave back the whole move.
ZEC pushed into the 1,314 to 1,360 zone and sold off, now at 1,203, down 8.5% on the day. The first bounce died in the same area, so this is the second failure there.
It also dropped back under the 0.236 at 1,222, which it had just reclaimed. That's about 1.6% above price, and it's now the line to win back.
The broken trendline is the next thing in play. It sits well below at roughly 1,100 to 1,120, and a retest of it from above would be the textbook move after a breakout. If buyers defend it, ZEC makes another run at 1,314, about 9% up. If it fails, the 1,075 low is next, about 10.6% below.
I'm not calling a trend change either way until a 4h close resolves it. Reclaim 1,222 and the breakout is alive. Lose the trendline and it was another fakeout.
Does the retest hold, or is 1,075 coming back? 👇
#ZEC #Zcash #CryptoAnalysis
like and follow for more.
OMG sooo Frustrating ! Geopolitics? Manipulation?
either way #zec got rejected at the same wall twice, and gave back the whole move.
ZEC pushed into the 1,314 to 1,360 zone and sold off, now at 1,203, down 8.5% on the day. The first bounce died in the same area, so this is the second failure there.
It also dropped back under the 0.236 at 1,222, which it had just reclaimed. That's about 1.6% above price, and it's now the line to win back.
The broken trendline is the next thing in play. It sits well below at roughly 1,100 to 1,120, and a retest of it from above would be the textbook move after a breakout. If buyers defend it, ZEC makes another run at 1,314, about 9% up. If it fails, the 1,075 low is next, about 10.6% below.
I'm not calling a trend change either way until a 4h close resolves it. Reclaim 1,222 and the breakout is alive. Lose the trendline and it was another fakeout.
Does the retest hold, or is 1,075 coming back? 👇
#ZEC #Zcash #CryptoAnalysis
like and follow for more.