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$ZEC Bearish Consolidation
Price Action Context:
⢠The 1h chart shows a failed breakout above 375.6 (24h high) followed by consolidation between 352-372. Recent candles form lower highs near 370, indicating selling pressure.
⢠Critical rejection visible at 375.6 with high volume (96.7K), confirming strong resistance. The subsequent drop to 342 found support with equally high volume (177K), creating a temporary equilibrium.
Recent 1h candles show declining volume during price consolidation (27.4K in last candle vs. 174K during yesterday's rally). This suggests lack of conviction in current price moves.
Capital Flow: Strong short-term outflows in contracts (e.g., -9M 1h outflow) contrast with spot inflows (+136K 1h). This divergence suggests institutional selling pressure against retail buying.
Entry short
$ZEC :
⢠Ideal short entry near resistance: 368-372 (test of BOLL upper band/MA5)
⢠Alternatively, break below support level 352.9 with volume confirmation
Stop Loss: 377-380 USDT area above key resistance
Target Levels
$ZEC ⢠Primary: 345
⢠Secondary: 333.6 (support level)
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šØ The weak MACD momentum and neutral RSI suggest limited downside potential. A break above 372 with volume would invalidate this bearish thesis and could trigger a move toward 383.57.
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