🚨 BINANCE SQUARE BUY SIGNAL: $ZEC /USDT Potential Rebound 🚨
Zcash ($ZEC ) is showing critical support holding after a recent volatility spike, signaling a potential rebound opportunity!
Based on the 1-Hour Chart and current technical readings:
🔍 The Bullish Setup
Support Confirmation: The price recently tested a strong demand zone, with the 24-Hour Low near $424.15 acting as a major psychological support. The quick rejection and reversal from this level indicate strong buying pressure.
Moving Average (MA) Cohesion: The price is consolidating back above key short-term moving averages. Specifically, it's trading above the MA(7), suggesting the immediate selling pressure is easing. A sustained hold above the MA(25) near the current price is crucial for confirmation.
Volatility: The Average True Range (ATR) is currently high, which is typical after a sharp drop and precedes a potential sharp rebound.
🎯 Trade Plan (Short-Term Scalp/Swing)
ENTRY ZONE: Look for a sustained close above $475 (Near the MA(25) level) for a confirmed bullish continuation.
TARGET 1 (TP1): $505.00 – A strong resistance and psychological level. Securing partial profits here is recommended.
TARGET 2 (TP2): $520.00 - $525.00 – Aiming for a full retracement toward the previous high-of-day.
STOP LOSS (SL): $449.00 – A tight stop placed below the cluster of recent lows to manage risk.
