[ZEC Analysis] 500 hit, aiming for 600, is there a chance to | wypiiiii on Binance Square

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[ZEC Analysis] 500 hit, aiming for 600, is there a chance to see a new high of 800 this month?
① Back in April, I pointed out that #ZEC would be a leading indicator around 330; once we broke through the trendline, we’d have a bullish run towards 500. In just a week, we saw an 80% surge—didn’t expect it to happen so quickly, and now we’re about to hit 600.
② Right now, ZEC is likely in the later stages of the second profit-taking phase. While I believe we could see a new high above 800 this month, playing it safe, it’s wise to take some profits off the table. Today’s market is surging under extreme overbought conditions, which signals a potential top. Taking profits is a reasonable move.
③ With ZEC's rise, it’s likely that ZEN and DASH will also follow suit, but since most attention and capital are focused on ZEC, ZEN and DASH may lag behind and not react immediately. Keep an eye on them. In summary, at the current price near 600 for ZEC, it’s time to take some profits; consider selling a portion of your spot holdings, while leaving some to wait for that new high above 800. Also, stay alert for any BTC pullbacks that could drag the market down.

wypiiiii

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【ZEC Analysis】ZEC has been the leading edge of the market since the end of last year, showing clear and high volatility as a secondary mainstream. Analyzing ZEC effectively means analyzing 80% of the main market trends.
①#ZEC quickly broke through the bottom in the past few weeks, completely exiting the low valley range, leading to intensified long and short positions, and subsequently triggering a bullish market rally. This indicates that ZEC has bid farewell to the previous downtrend, with bulls gaining momentum, and the MACD on the weekly chart showing a golden cross turning bullish, suggesting that the price will continue to hold high.
②$ZEC , while currently at a high price, is being pressured by downward trend lines on the weekly chart. For the past two to three weeks, the market has been locked in a wide range between 300-360, and currently facing resistance and a downward move, indicating that the market needs adjustment. Therefore, this week and next week will be critical time points for ZEC. Whether it can maintain this wide range without breaking down and gradually break through the trend line will determine the potential for higher price increases.
③ZEC is the leading edge of the Bitcoin market. A pullback is expected by the end of this month, but overall, during Q2, the old gold believes it will continue to rise, although uncertainties from external events need to be monitored. If ZEC can break through the trend line, the next upward target will be $500.

Disclaimer: Includes third-party opinions. No advice. Binance AI may be used without guarantee. See T&Cs.