🚨 #ZEC Short Update – Bearish Momentum Is Getting Stronger, $1,000 Is the Next Target
Remember our previous call when we spotted the rejection from the $1,330 resistance and shared a short setup around $1,263? That setup played out perfectly, and the market is moving in our favour.
Current Chart Analysis
Lower Highs & Lower Lows: $ZEC is forming a clear bearish structure. Price has dropped sharply and recently touched the $1,200 level.
EMAs & RSI Breakdown: Price is trading below all major moving averages, while RSI is around 30.06, showing strong selling pressure and oversold conditions.
Next Major Target: If bearish momentum continues, the next major psychological target is $1,000.
🎯 Trading Strategy
Keep existing short positions open with proper risk management.
Trail your stop loss to breakeven or into profit where possible.
Avoid blindly jumping into long positions against the current trend.
Watch for possible relief bounces, especially with RSI in oversold territory.
The bears are still in control. Let's stay patient and watch the next targets.
Remember our previous call when we spotted the rejection from the $1,330 resistance and shared a short setup around $1,263? That setup played out perfectly, and the market is moving in our favour.
Current Chart Analysis
Lower Highs & Lower Lows: $ZEC is forming a clear bearish structure. Price has dropped sharply and recently touched the $1,200 level.
EMAs & RSI Breakdown: Price is trading below all major moving averages, while RSI is around 30.06, showing strong selling pressure and oversold conditions.
Next Major Target: If bearish momentum continues, the next major psychological target is $1,000.
🎯 Trading Strategy
Keep existing short positions open with proper risk management.
Trail your stop loss to breakeven or into profit where possible.
Avoid blindly jumping into long positions against the current trend.
Watch for possible relief bounces, especially with RSI in oversold territory.
The bears are still in control. Let's stay patient and watch the next targets.
