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7.10 Jinglu ZEC brief review
ZEC surged to 506.63, then upside momentum quickly decayed as profit-taking sell orders clustered to exit at the high point. The 505-506 range faces strong resistance; after the spike, the market entered a sideways consolidation phase, and the bulls lacked the strength to keep breaking to new highs. Near-term gains have overextended the bulls; price action is lackluster on the upside. Bearish power is gradually building up, and going forward it will still be dominated by the bears.
Trading suggestion
Short from 503-515
Target range 480-470
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