🧐 ZEC Update: Is the privacy king ready to rally?
🔍 Quick Analysis
* Current Price: $445.55
* 24h Change: +9.06% 📈
* Trend: Primary trend on the Daily is Up, but the 4H chart shows a struggle at local resistance.
* Indicators:
* EMAs: Price is currently trading above the EMA 50 ($427) and EMA 200 ($430). This is a bullish "Golden Cross" environment!
* RSI: Neutral (approx. 48). It’s neither overbought nor oversold, leaving plenty of "fuel" for a move.
* MACD: Bullish crossover just occurred on the 4H histogram.
💡 Trader’s Classroom
Notice the EMA 200 (purple line) and EMA 50 (yellow line) on your chart. When the price stays above these levels, they act as a "floor" or support. As long as ZEC holds above $430, the buyers are still in control.
🚀 TRADE SETUP
A strong buy signal exists because the price successfully retested the EMA 200 and bounced with high volume.
* Entry Zone: $440.00 - $445.00
* Stop Loss: $415.00 (Below the recent swing low)
* Take Profit 1: $457.00 (Local resistance)
* Take Profit 2: $485.00 (Psychological major level)
Note: ZEC's price action is correlated with Bitcoin's movement.
#DYOR
#spottrading #tradingsignal #altcoin $ZEC $BTC