🚨 $ZEC on the turn? Why the current rise may become a turning point — analysis and forecast for today
$ZEC is trading at 671 after a confident rise of +15% over 24 hours, and the RSI of 70.29 indicates an overbought zone — the market is overheating, and a local correction looks likely. The current dynamics resemble an impulse that may either continue by breaking through the nearest resistances or switch to a pullback phase, which is particularly important for those considering short positions.
Bullish scenario: holding the price above 660–675 may lead to a test of 700–720. Possible entry point — a pullback to 655–665. TP: 705 / 720. SL: 2–5% from entry.
Bearish scenario: upon breaking $ZEC 650 the market may deepen to 620–605. Entry is possible on retesting 655–665 from above. TP: 630 / 610. SL: 2–5% from the entry point.
Considering the volatility, it is recommended to use only a small % of the deposit and, if possible, move SL to breakeven.
I opened a short and attached it to the post — share your market views in the comments. Subscribe not to miss important analytics and to enhance your advantage in the market.
