ZEC is currently reported at 498.24, and after breaking below the 500 integer mark, it has accelerated downwards, presenting a bearish trend with a crushing momentum. The 4-hour Bollinger Bands are opening downwards, and although the MACD has formed a golden cross, it is constrained by the zero axis, with all rebounds being ruthlessly swallowed.
The current maximum resistance for rebounds is locked in the 515-520 death zone, and any pullback will face heavy selling pressure. The key support level below is at the lower band of 480; if it breaks, it will open up to a deep abyss space of 450-460.
It is suggested to continue shorting if the price rebounds to the 505-510 range, with a stop-loss above 525 and a target of 480-485. If it directly breaks below 495, consider shorting with a small position, and look for the previous low at 470.
ZECUSDT
Perp
517.28
-15.21%