$ZEC has been moving fast. On the 1H chart, the price climbed from around $1,110 to a high of $1,295.76. Now it’s trading near $1,258 after pulling back from that high.
What I’m watching now is whether buyers can push the price higher again or if it needs more time to cool down.
Here are the levels on my chart:
Resistance: $1,264–$1,295
Current price: $1,258
Support: $1,223
Next support: $1,182
If $ZEC, moves back above $1,264 and buyers hold that level, another test of $1,295 could be possible.
But if the price keeps falling, I’ll be watching the $1,223 area for support. After such a strong move, I wouldn’t be surprised to see some more pullback.
Personally, I’d rather wait for a clear signal than jump in after a big green move. The next few candles could tell us a lot.
What’s your take on $ZEC? Can it break above $1,295, or is a deeper pullback coming first?
NFA. Manage risk.#zec
