Just now, the MACD indicator on the 1-hour chart of ZEC has completed a death cross, and the price has sharply dropped to the lower Bollinger Band. Is this rapid pullback a healthy washout or a precursor to a trend reversal?
Just as the market was optimistic about ZEC challenging $500, the situation changed dramatically. The latest 1-hour candlestick chart shows that ZEC closed at $450.48 on December 13 at 17:00, with a one-hour decline of 2.42%, hitting a low of $446 during the session, giving back nearly half of yesterday's gains.
The current price is struggling right at the lower Bollinger Band ($449.75), while the MACD indicator has formed a clear death cross signal (DIF: 2.21, DEA: 3.02, MACD: -1.62).
This is not a simple technical adjustment; it is an immediate test of bullish and bearish beliefs. All eyes are focused on $449.75—this is a lifeline that cannot be compromised.
01 Technical emergency update: The key watershed has appeared
According to the latest chart data, the situation is more severe than a few hours ago:
Bullish and bearish life and death line: The Bollinger Bands lower track at $449.75 is the most critical support currently. If the hourly line closes below this position, the short-term technical structure will be damaged, possibly triggering a deeper pullback to the $440-$435 area.
Resistance level moving down: The primary resistance above has moved down from $467 (Bollinger Bands upper track) to $458.45 (Bollinger Bands middle track). Any rebound that cannot stabilize at this position is just a weak rebound.
Momentum confirmation weakening: MACD crossover and histogram turning green is a clear short-term momentum exhaustion signal. Although the long-term daily trend remains unchanged, the demand for adjustment at the 1-4 hour level is strong.
02 Current situation interpretation: Is it panic selling or healthy adjustment?
My personal view is that this is more like a necessary and healthy cleansing of the previous rapid rise. There are three reasons:
Profit squeeze: Rapidly rising from the low point to $464, a large amount of short-term profit-taking demand exists, and the pullback is a spontaneous balancing act of the market.
Testing the strength of support: Before hitting higher targets, pulling back and solidifying key support (around $450) is a common move in a strong market, aimed at washing out the indecisive bulls.
Fundamentals remain unchanged: The core logic driving the rise—privacy demand, ZK technology adoption, and supply tightening after the halving—has not changed. A pullback does not alter the long-term trend.
03 Core game points and operation strategies
Currently, the core of market competition is the confrontation between 'trend resilience' and 'short-term overbought'.
For holders: If you believe in the long-term narrative, the $449-$450 area can be an important area for additional purchases or holding observations. A significant drop below $445 requires caution, consider reducing positions to control risk.
For observers: Ideal entry points may appear in two locations: one is the strong support confirmation point near $450 (waiting for clear K-line signals such as a long lower shadow bullish candlestick); the other is if it breaks down, look for opportunities near the next support zone of $435-$440.
Please remember, in a bull market, sharp drops often provide a second chance to those who missed out.
Charts don’t lie; they tell us that the bulls' attack has encountered the first strong resistance. But the real trend always moves forward through twists and turns.
The battle for $450 has begun. Do you think the bulls can hold the line, or will the bears take advantage and pursue victory?
Leave your judgment in the comments! Follow the latest developments, and let’s find certainty together in the fluctuating market.
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