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I thought ZEC was ready for another push, but the chart changed the story.
Recently, $ZEC has fallen to around $1,091, after getting rejected from the $1,160–$1,200 area. On the 1H chart, price is also sitting below the short-term MA5, MA10 and MA30, which tells me momentum is still weak rather than ready for an immediate recovery.
I’m currently neutral to slightly bearish short term. My main reason is that $1,070–$1,100 is now the key decision zone. If buyers defend this area and ZEC reclaims $1,115–$1,130 with a strong 1H close, I’ll start looking for a move back toward $1,160 and then $1,200+. But if $1,070 breaks and the retest fails, I’d expect $1,050 and possibly $1,000 to come into play.
For me, the important thing right now is not guessing the next candle. I want to see confirmation first. A cheap-looking price is not automatically a good long entry.
#AppleEvent #GateMeme #GateLaunchesTrenchesWith0GasFee @GateSquare @Gate_Square
$ZEC
I thought ZEC was ready for another push, but the chart changed the story.
Recently, $ZEC has fallen to around $1,091, after getting rejected from the $1,160–$1,200 area. On the 1H chart, price is also sitting below the short-term MA5, MA10 and MA30, which tells me momentum is still weak rather than ready for an immediate recovery.
I’m currently neutral to slightly bearish short term. My main reason is that $1,070–$1,100 is now the key decision zone. If buyers defend this area and ZEC reclaims $1,115–$1,130 with a strong 1H close, I’ll start looking for a move back toward $1,160 and then $1,200+. But if $1,070 breaks and the retest fails, I’d expect $1,050 and possibly $1,000 to come into play.
For me, the important thing right now is not guessing the next candle. I want to see confirmation first. A cheap-looking price is not automatically a good long entry.
#AppleEvent #GateMeme #GateLaunchesTrenchesWith0GasFee @GateSquare @Gate_Square
$ZEC {currencycard:futures}(ZEC_USDT)