VIP MARKET UPDATE: $ZEC
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$ZEC is trading around the 348 area, holding above the ascending trendline that has been rising since late March and continues to provide a solid floor below price despite the significant pullback from the 390 highs. After the explosive move that was covered in the last update, price has been gradually retracing and is now sitting just above the 348 horizontal level that has been a recurring reference point, with the trendline catching up from below and compressing price into an increasingly tight range.
As long as ZEC holds above the trendline and the 330–335 area, the broader structure remains constructive and a recovery toward the 370–390 zone is still the more likely outcome. A trendline loss on a closing basis however would be a meaningful shift, suggesting the post-breakout momentum has fully exhausted and opening the door toward the 310–315 area below.
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