$ZEC Analysis: Potential Pullback or Bearish Reversal?
Zcash (ZEC) is showing signs of cooling off on the 15-minute chart, currently trading at $224.66. After a strong rally to a 24-hour high of $229.99, the price has slipped below the EMA(21) and EMA(25) cluster, which is now acting as immediate resistance. The MACD has confirmed a bearish crossover with increasing red histograms, signaling a shift in short-term momentum. However, the price remains above the long-term EMA(99) at $220.90, which serves as the primary support floor. A failure to hold this level could accelerate the correction toward $215.
Trade Plan:
* Entry: $221.50 – $224.00
* Take Profit: $230.00
* Stop Loss: $218.00
ZEC
238.58
-3.51%