$ZEC /USDT Perpetual Futures Update
Market Overview:
ZEC is trading at$23.45, down approximately -7% on the day, underperforming against major assets. Volume is rising, indicating heightened selling interest as price challenges a major multi-year support level. The privacy coin sector is facing broad weakness.
Key Levels:
· Resistance: Immediate resistance at $25.00 (psychological & previous minor support). The main supply zone is $27.00 - $28.00, which was the recent breakdown level.
· Support: CRITICAL historical support at $23.00. This level represents the 2023 low and a multi-year floor. A loss here would be structurally devastating, with the next notable support not until $21.00 and $19.00.
The Next Move:
Price is probing the ultimate support at$23.00. This is a "line in the sand" moment. Expect either a strong reactionary bounce from this level or a catastrophic breakdown if it fails. The move will be significant.
Trade Plan:
1. Scenario 1 (Breakdown Short): Wait for a 4-hour candle to close below $22.80. Enter a short on a retest of $23.00 as new resistance.
· Stop Loss: $23.60
· Targets: TG1: $21.00 | TG2: $20.00 | TG3: $19.00
2. Scenario 2 (Reversal Long): If price holds above $23.00 and prints a clear bullish reversal pattern (e.g., a 4H bullish engulfing), a counter-trend long can be attempted for a bounce to resistance.
· Stop Loss: $22.70
· Targets: TG1: $25.00 | TG2: $27.00 | TG3: $30.00
Short/Mid-Term Insight:
The$23.00 level is paramount. A successful hold could form a historic double bottom, setting the stage for a substantial multi-month recovery. A breakdown, however, would invalidate years of support and likely lead to a capitulatory drop to find a new price floor.
