$ZEC has suddenly made a strong dump. A heavy red candle has appeared which clearly indicates that sellers have taken control. The bounce appearing near 398–400 is just a reaction; no solid recovery is visible right now. The SAR has flipped upwards and the MACD is also going down, meaning the pressure is not over yet.
If the price does not cross back over 405–408, this bounce will remain weak. If 392 breaks again, then the area around 386 may come into play. On the upper side, the zone 412–418 is strong, as selling had previously occurred from there.
Right now, buying early is risky. The market needs to settle a bit, move sideways, then it will become clear what the next move is. Entering in a panic or averaging down are both dangerous.
