🚨 $ZEC /USDT – Bearish Rejection at $38.90! 🚨
Current Price: $37.95 (+5.77%)
Market Structure:
$ZEC had a strong bullish run but faced a sharp rejection near the 24H high of $38.92. The current price action is showing lower highs with bearish engulfing patterns forming—a signal of potential exhaustion in the uptrend.
Key Levels:
• Resistance: $38.50 – $38.90
• Support: $37.50 / $36.80
• 24H Range: $35.74 – $38.92
Short Setup:
• Entry Zone: $37.95 – $38.30
• Targets:
◦ TP1: $37.30
◦ TP2: $36.50
◦ TP3: $35.80
• Stop Loss: $39.00 (above 24H high)
Why This Setup Matters:
ZEC's bullish momentum is fading with rising wicks and heavy rejection candles at the top. This signals a high probability for short-term pullback or reversal as buyers lose steam.
Pro Tip:
Watch for a 15m candle close below $37.80 to confirm bearish continuation. Use trailing stops to protect gains if the dump accelerates.
CTA:
ZEC bulls are losing grip—time to position for the retrace! Lock in profits, protect downside, and let the setup work its way down!
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