$ZEC has once again reinterpreted the power of the 4-hour vegas channel golden cross. After two pullbacks to the channel position, both rebounds were quite strong. The resistance visible on the daily chart is in the 698-707 range.



Second, on the 4-hour chart, it currently looks like the range may be narrowing. Also pay attention to the position of the trendline here—see Chart 3. Only after the 580-587 range is broken to the downside will the bears be able to breathe a bit.

When placing trades, focus more on the hourly chart—when this trendline is broken, then pursue a short on the right side to see if price can drop further. Otherwise, the resistance at 698-707 on the daily chart may really come into play.
ZEC-1.53%
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RetroRadioWaves
· 4h ago
Daily resistance + hourly trend, clear division between bulls and bears
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TheFeelingOfEthInTheSeaBreeze
· 12h ago
ZEC's trend, Vegas channel faith recharge successful
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DaoSideQuest
· 16h ago
Vegas channel is indeed stable; it bounced back both times after retesting.
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PickingUpCatsInTheContract
· 16h ago
Keep a close eye on the 698-707 resistance zone; a breakout will lead to a new world.
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BluePeonyInTheDark
· 16h ago
580-587 only short after breaking below, right-side chasing is indeed stable
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BridgeTroll
· 16h ago
Pinch and trend line, this combination is quite interesting
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