ZEC upper resistance at 470 remains unbroken, bearish pattern gradually established
Currently, the 470 level has become a clear strong resistance area for ZEC, with multiple attempts to break through failing to do so effectively, and upward momentum clearly weakening. As long as this position is not firmly established, bulls will find it difficult to launch an effective counterattack, and the trend is more inclined to a pullback adjustment after being blocked at a high.
In the context of unsuccessful breakthroughs, the market is likely to turn towards a correction, and a short-term bearish approach is advised.
Operational Strategy
ZEC can attempt to establish short positions in the 460–470 range
First target 435
If 435 is effectively broken down, further look towards around 425
ZECUSDT
Perp
414.2
-8.06%