$ZEC is this just a dead cat bounce? 👀
Price is sitting at 1,212 after that brutal drop from 1,385. We wicked all the way down to 1,112 and have since clawed back, but we're stalling right around 1,218. This area matters because it's the first real resistance after the flush.
Bullish scenario:
If buyers reclaim 1,220 and hold it, we could push back toward 1,278. That would be the first sign of a real higher low forming.
Bearish scenario:
Downside prevails as long as 1,220 holds as resistance. If we reject here and lose 1,159, the 1,112 low comes back into play.
Price is sitting at 1,212 after that brutal drop from 1,385. We wicked all the way down to 1,112 and have since clawed back, but we're stalling right around 1,218. This area matters because it's the first real resistance after the flush.
Bullish scenario:
If buyers reclaim 1,220 and hold it, we could push back toward 1,278. That would be the first sign of a real higher low forming.
Bearish scenario:
Downside prevails as long as 1,220 holds as resistance. If we reject here and lose 1,159, the 1,112 low comes back into play.