Is ZEC going to break through the 632 resistance level, or is it going to drop directly to 540 or even 430? Today, let's be straightforward, combining news and technical analysis, let's lay it all out.
News:
This morning, I came across a post from Arthur Hayes, this guy said: 'If ZEC drops to 300-350 dollars, I might add to my position.' He hasn't met his target position yet!
The big guy hasn't bought enough yet, which indicates he is optimistic about ZEC in the medium to long term, but what about the short term? 300-350 is his 'golden pit' in his mind, and now ZEC is hovering around 460, still over 100 dollars away from his accumulation point. This suggests there may be room for a short-term pullback, but the probability of dropping below 300 is very low; the big guy isn't in a hurry to buy the dip.
Technical Analysis:
Now looking at the 1-hour K-line of ZEC/USDT, Jin Min will translate for you:
Bollinger Bands: the upper and lower tracks are tightly constrained
Middle track 509.62, upper track 604.05, lower track 415.19. Current price 462, caught between the middle and lower tracks, leaning upwards. The Bollinger Bands are narrowing, indicating a direction will be chosen soon; either a breakout above the upper track at 604, or a drop below the middle track at 509.
MACD: Is there a golden cross below the 0 axis? Don't celebrate too early. DIFF and DEA are still below the 0 axis, but there are signs of a 'golden cross' coming. This is a rebound signal, but remember: the strength of a golden cross below the 0 axis is weak; it might end up being a 'false rebound.'
Volume: be cautious after 'increased volume and decline'
The chart indicates 'increased volume and decline', suggesting significant selling pressure recently. Even if there is a rebound now, the volume cannot keep up, making it difficult to break through the upper resistance at 604. Not to mention the 'mountain' at 632.77, which has no volume or capital support, relying purely on sentiment to push it up? It's precarious!
My view: tonight ZEC will definitely 'bounce first and then drop'; players should respond like this!
Combining Hayes's intentions and K-line signals, I bet ZEC's movement tonight will be: a slight rebound to around 604, then a quick drop to the 540 bulls-bears dividing line, even testing the support at 430!
Operational advice:
For those holding positions: reduce your holdings immediately when rebounding to around 600! Don't be greedy for those few points; 604 is a resistance level, if it touches, run away; otherwise, it will likely drop back to 540, and all profits will be lost;
For those looking to bottom out: wait until 540 to take action! 540 is the dividing line between bulls and bears; if it breaks, it will drop to 430. If it holds, this is short-term support, and Hayes's accumulation point is 300-350, which is not far from 540; he might start small positions here;
Beginners, don't touch it! In this volatile market, newcomers just end up paying fees to the big players. It's better to wait until the direction is clear before entering. I will announce my positions at noon tomorrow; pay attention if you want to follow!
There is no 'certain rise' or 'certain fall' in the crypto world, but there are 'probabilities' and 'responses'. Before midnight tonight, I will keep an eye on the market and update the dynamics. If you want to know how ZEC moves in real-time, hit follow, join 'Jin Min Village', and let’s profit together!
Jin Min doesn't play tricks; what you want is 'understandable and profitable' content. What I want is to help you avoid pitfalls and seize profits as a loyal fan.
