$ZEC USDC is consolidating within a clear corrective phase on the 1-hour chart after hitting heavy overhead resistance. Following an aggressive bullish run that peaked near the 24h high, a series of lower highs and lower lows formed as selling volume outpaced immediate demand, pushing the price down into a local support floor near $520.00. Currently, a small green candle has pushed the price slightly up to $525.10 as buyers try to steady the market and establish a reversal base. If the bulls can hold this pivotal region and break out above the local descending resistance line, a recovery rally back toward the weekly peaks is highly likely, whereas a failure to sustain this level will expose the structure to a retest of the major daily lows.
First target is $545.00 which marks the nearest significant lower high resistance level on the chart. Second target is $554.52 to challenge and break past the current 24h high barrier. Third target is $510.73 for a complete downside retest of the major 24h low support.
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