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$ZEC Faces Rejection! Is a Retest of $360 Coming? 🐻
$ZEC is struggling to shift momentum. After a bounce from the $360 lows, the price hit a wall at the 25-day EMA and is curling back down. Currently trading at $388.66, the bears remain in control. Let's analyze the chart! 👇
📊 Technical Analysis (4H Timeframe)
Trend & EMAs: The trend is clearly bearish. The price is trading below the EMA 7 ($397) and EMA 25 ($405). The recent rally failed exactly at the EMA 25 (pink line), creating a "Lower High"—a bearish signal.
RSI (Relative Strength Index): The RSI is low at 37.60. It is hovering in weak territory, suggesting that sellers are still dominant, but it has not yet hit "Oversold" (<30) levels, implying there is room for the price to drop further.
MACD: While the histogram shows some green (momentum recovery), the lines are still below zero. The price action failing to follow through suggests this was just a relief rally before the next leg down.
Support/Resistance:
Resistance: $397 - $405 (The EMA cluster).
Key Support: $382.73 (24h Low) and $360.70 (Swing Low).
🎯 Trade Setup: Trend Continuation
Since the price rejected off resistance and the trend is down, the high-probability play is a Short position targeting the recent lows.
Strategy: The "Lower High" Short
Direction: SHORT (Sell) 🟥
Entry Zone: $388.00 - $395.00 (Enter at current price or on a small wick up to EMA 7).
Take Profit (TP):
TP1: $380.00 (Immediate support test)
TP2: $361.00 (Retest of the major swing low)
Stop Loss (SL): $408.00 (Strictly above the EMA 25 resistance).
⚠️ Alternative Scenario (Bullish Reversal)
If
$ZEC manages to break and close above $406, it invalidates the bearish structure. In that case, look for a pump toward $420.
Disclaimer: This is not financial advice. Crypto markets are volatile—always manage your risk!
#ZECUSDT