MARKET UPDATE & TRADE SETUP: $ZEC
$ZEC is currently trading around the 348 level, holding above the ascending trendline that has been in place since late March. This trendline continues to act as a strong support, even after the notable pullback from the 390 highs.
Following the impulsive rally highlighted in the previous update, price has entered a controlled retracement phase. It is now stabilizing just above the 348 horizontal support, a level that has repeatedly acted as a key reference point. Meanwhile, the rising trendline is catching up from below, gradually compressing price into a tighter range — often a precursor to a significant move.
As long as $ZEC maintains support above the trendline and the 330–335 zone, the overall structure remains constructive. In this scenario, a recovery toward the 370–390 resistance area remains the more probable outcome.
However, a confirmed breakdown below the trendline on a closing basis would signal a potential shift in structure. This would indicate that post-breakout momentum has weakened, opening the path toward the 310–315 support region.
Trade Setup:
* Bullish Scenario:
Consider long positions on dips near 335–345 support, or on a confirmed breakout above 360 with volume.
Targets: 370 → 385 → 390
Invalidation: Daily close below 330
* Bearish Scenario:
If price breaks and closes below the trendline and 330, short positions may be considered on retests.
Targets: 315 → 310
