🚨 $ZEC Current Trend Bearish
Recent hourly candles show significant volume on the large bearish candle that broke support around 586-588, confirming the sell-off. Subsequent candles show lower volume on small bounces, suggesting weak buying interest and potential for continuation lower. The high-volume drop is a key bearish confirmation.
Confluence of bearish MA alignment, negative MACD, price action below Bollinger midline with weak %B, consistent and heavy capital outflows from both spot and futures markets, and high-volume breakdown candles creates a strong bearish bias. While KDJ/RSI hint at oversold conditions, they are not yet extreme, and the overwhelming momentum and volume data suggest the path of least resistance is down.
Entry Short $ZEC : rejection resistance 576
• Aggressive Short: break below support 562 with volume could be used for a continuation short entry.
Stop-Loss: above 585
Target Price $ZEC : 557-550
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