$ZEC Analysis: Bearish Momentum Continues
📉 Entry: Around $485.13 (Current Market Price)
🛡️ Stop Loss (SL): $490.50 (Above recent short-term resistance)
🎯 Take Profit (TP): $475.00
💡 Reason:
The chart shows clear bearish price action under Binance's 1-hour moving averages. The price has recently broken below key short-term support levels with increasing downward pressure. Both the 7-period and 25-period Moving Averages (MA) are sloping downward above the current price, acting as strong dynamic resistance. A continuation of this markdown phase is highly expected toward the next psychological support zone.
📉 Entry: Around $485.13 (Current Market Price)
🛡️ Stop Loss (SL): $490.50 (Above recent short-term resistance)
🎯 Take Profit (TP): $475.00
💡 Reason:
The chart shows clear bearish price action under Binance's 1-hour moving averages. The price has recently broken below key short-term support levels with increasing downward pressure. Both the 7-period and 25-period Moving Averages (MA) are sloping downward above the current price, acting as strong dynamic resistance. A continuation of this markdown phase is highly expected toward the next psychological support zone.