📝 Quick Analysis of ZEC/USDT (Zcash): Deep Correction After Peak
ZEC/USDT is in a deep correction phase after reaching a local peak of $775.00 on the 1-day (1D) timeframe. The current price is $456.17.
📉 Technical Analysis Overview
• Trend: Down (Correction). The price is below both MA(7) and MA(25), confirming significant selling pressure.
• MACD: Currently at a large negative value (-27.48), indicating strong downward momentum.
• RSI: 30.64, approaching the Oversold region, signaling that selling pressure may soon be exhausted but has not confirmed a reversal yet.
⚔️ Key Price Levels (1D)
• Key resistance: $559.42 (MA(25)). Needs to break to confirm recovery.
• Strong dynamic support: $248.50 (MA(99)). This is the next support level to watch.
💡 Summary
ZEC is under significant profit-taking pressure. Although RSI is signaling an approaching oversold condition, the trend will only truly reverse when ZEC closes above $559.42.
