ZEC/USDT: Is the fuel running out? Short Plan in progress 🚀➔🔻
The bullish momentum of $ZEC is starting to show signs of extreme fatigue. After hitting resistance near $394, the price has stalled and buying volume is beginning to fade. When the price "floats" near resistance without breaking it strongly, a pullback is usually imminent.
Here I share my Trading Plan for a possible short entry:
My Short Strategy
Entry Zone: $325 – $347 (Looking for the retest of the resistance).
Stop Loss (SL): $360 (Protection above the last high).
💰 Take Profit Objectives (TP)
TP 1: $300 (Psychological support).
TP 2: $270 (Previous consolidation zone).
TP 3: $240 (End of the pullback cycle).
💡 Quick Technical Analysis
The 4h chart shows that the upside is losing strength with each attempt to rise. We are seeing closes below the fast moving averages, indicating that sellers are starting to win the battle.
What do you think? Do you believe that $ZEC has the strength for one last push or are we going straight to $300? 👇
#ZEC #Trading #TechnicalAnalysis #CryptoMarket #Zcash #BinanceSquare
The bullish momentum of $ZEC is starting to show signs of extreme fatigue. After hitting resistance near $394, the price has stalled and buying volume is beginning to fade. When the price "floats" near resistance without breaking it strongly, a pullback is usually imminent.
Here I share my Trading Plan for a possible short entry:
My Short Strategy
Entry Zone: $325 – $347 (Looking for the retest of the resistance).
Stop Loss (SL): $360 (Protection above the last high).
💰 Take Profit Objectives (TP)
TP 1: $300 (Psychological support).
TP 2: $270 (Previous consolidation zone).
TP 3: $240 (End of the pullback cycle).
💡 Quick Technical Analysis
The 4h chart shows that the upside is losing strength with each attempt to rise. We are seeing closes below the fast moving averages, indicating that sellers are starting to win the battle.
What do you think? Do you believe that $ZEC has the strength for one last push or are we going straight to $300? 👇
#ZEC #Trading #TechnicalAnalysis #CryptoMarket #Zcash #BinanceSquare