$ZEC is testing a critical confluence zone around $1,120–$1,180. 👀
After rallying from below $500 to nearly $1,700, the price has been making lower highs and pulling back into an area that previously acted as resistance before the breakout.
Now that zone is being tested from above. Two scenarios to watch:
Bullish: Buyers reclaim the zone and defend it on a retest.
Bearish: A sustained breakdown could open the door to further downside toward $1,000.
The latest candles show sellers pressing below the zone. A quick reclaim would matter; otherwise, former support could turn into resistance.
After rallying from below $500 to nearly $1,700, the price has been making lower highs and pulling back into an area that previously acted as resistance before the breakout.
Now that zone is being tested from above. Two scenarios to watch:
Bullish: Buyers reclaim the zone and defend it on a retest.
Bearish: A sustained breakdown could open the door to further downside toward $1,000.
The latest candles show sellers pressing below the zone. A quick reclaim would matter; otherwise, former support could turn into resistance.