Zcash $ZEC is showing explosive strength today, currently up over +17%! 📈
Technical Breakdown:
Bullish Momentum: On the 1H chart, ZEC has successfully broken out of its previous consolidation range, clearing the $500 psychological barrier with ease.
Moving Averages: The price is holding firmly above the MA(7) (514.83). As long as we stay above the MA(25) (478.16), the short-term trend remains heavily skewed to the upside.
Resistance & Support: Immediate Resistance: $527.13
Main Target: A clean break above $530 could open the doors to $550–$560.
Support: Strong support sits at $511 and the $491 breakout zone.
Market Sentiment: Whale accumulation signals and a recent short squeeze have fueled this rally. While the RSI is approaching overbought territory, the trend structure remains "Buy the Dip."
Are you Long or Short on ZEC? Let me know below!
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