$ZEC Technical Outlook 👀📉
ZEC’s recent price action has been interesting, but the momentum is starting to cool.
Price is currently hovering around 517, up roughly +11% in the last 24 hours. After pushing to an intraday high near 529, price pulled back toward 465, which suggests a classic move: strong push up, then consolidation.
Although there were a few spikes in volume, buying pressure hasn’t been consistent. This usually signals that retail enthusiasm is fading after the initial pump ⚠️.
📊 Indicators Breakdown
Bollinger Bands are tightening, with price stuck near the mid-band around 517. The range is very narrow, hinting at an upcoming move but with uncertainty.
MACD has flipped bearish: the signal line is above the MACD line, and the histogram is negative. This often appears near local tops 📉.
Moving Averages show short-term pressure. The fast MA remains elevated, while the slower MA below acts as support, highlighting post-rally exhaustion.
🔍 Key Levels to Watch (Short-Term)
Resistance: 518 → 529
Support: 516 → 465
A break below 516 could open the door for deeper pullbacks. On the other hand, holding above 518 may give price another shot at the recent high.
⚠️ Final Thought After such a sharp 24-hour rally, profit-taking pressure is high. The most likely scenario is high-level consolidation, not a clean continuation upward. Patience may be the smarter play right now ⏳.ZECUSDT Perp
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