Why this correction is healthy
$ZEC just triggered a long liquidation of $2.3432K at $433.21. While liquidations often look alarming at first, they can actually be positive for the market. This type of correction helps to remove over-leveraged positions, consolidates the price structure, and allows stronger hands to step in. Think of it as the market “resetting” before a more stable move.
Trade Setup I’m Watching
Entry Zone: $430 – $435
Target 1: $445 – first resistance from previous swing high
Target 2: $455 – stronger resistance zone and previous reaction area
Stop Loss: $425 – below recent support level
Why this zone is strong
Previous Support: $430 acted as a solid support level multiple times over the past weeks, meaning buyers are likely to defend this area.
Retracement Level: This zone aligns closely with the 50% Fibonacci retracement of the last major upward swing.
Reaction Area: Price previously consolidated here, forming a base before the last rally—indicating that if it holds again,be could resume upward momentum.
I’m watching this zone carefully because if $430–$435 holds, $ZEC could regain strength and move toward our target levels. If it breaks below $425, it signals that further downside is possible, so the stop protects against that risk.
Summary
Long liquidations like this are part of healthy price action. he is now testing a strong support zone where it could potentially bounce and continue upward. Monitoring how it reacts around $433.21 will be key for the next move.
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