$ZEC : Hard Support Test & Recovery Rally Long Setup 🚀
Trading Setup: Long
Entry Zone: 403 – 407
SL: 392
TP1: 418
TP2: 425
TP3: 435
Technical Analysis
$ZEC is currently testing a critical psychological support zone around $400 on the H4 timeframe, following a sharp price correction.
Price Action: The presence of lower wicks suggests that buyers are "buying the dip" and defending this level.
Momentum: The Relative Strength Index (RSI) is in the lower zone and shows an upward trend, indicating that the preceding sell-off may have been overextended and requires a technical mean-reversion rally to rebalance supply and demand.
Execution Trigger
This setup identifies a bullish counter-trend play, capitalizing on the defense at the hard support zone. Sustaining above the 392 Stop-Loss level is a prerequisite, as this marks the most recent Swing Low. The trade targets a rally to 418 and potentially extends to 435.