šØ $ZEC CRASH ALERT! Is the Bull Run Over at $750? š
Zcash ($ZEC) bulls just saw a violent stop! After an incredible parabolic pump, the price has suffered a deep correction, slicing through short-term support and dropping over 11% to sit near $515.76. This is a crucial turning point-prepare for volatility!
š Technical Outlook (Bearish Momentum)
The daily chart confirms heavy selling pressure.
MAs Flipped: Price is now below the short-term MA(7) ($572.56) and MA(25) ($551.79). This former support cluster is now acting as strong overhead resistance.
MACD Confirms: The MACD is bearishly crossed and the histogram is negative (-23.23), confirming that downside momentum is accelerating.
š Trade Setup: Short the Bounce š»
Given the sharp reversal, the strategy is to capitalize on a relief rally failure.
Bias: SHORT ā¬ļø
š Entry Zone: $550.00 - $570.00 (The MA resistance cluster)
šÆ Target 1 (TP1): $450.00 (Next key psychological support)
šÆ Target 2 (TP2): $350.00 (Major structure retest)
š Stop-Loss (SL): $605.00 (Above the MA zone/recent highs)
The $550.00 - $570.00 zone is the absolute 'support level'. Until $ZEC can reclaim and hold above this area, the path of least resistance is down, with targets in the $400s and potentially lower.
š” Tip: After a move this fast, corrections are equally sharp. Wait for a solid reversal pattern before trying to catch this falling knife!
