📉 Technical Analysis – ZEC/USDT (1h Chart)
Current Price: $389.77
24h Variation: -1.47%
24h High/Low: $413.97 / $383.87
⸻@Zcash Official #zec #zcash $ZEC
🔍 Context Summary:
The ZEC/USDT asset continues in a short-term downtrend, with the price below all moving averages (MA7, MA25, MA99). The failure to break important resistances indicates weakness and possible consolidation at lower levels.
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📊 Moving Averages:
• MA7: $390.08
• MA25: $397.97
• MA99: $411.20
All averages are sloping downwards, with the price even below the MA7, which reinforces selling strength in the very short term.
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💡 RSI Indicators:
• RSI(6): 41.29
• RSI(12): 41.53
• RSI(24): 43.44
RSIs are neutral and still pressured downwards, with no clear signs of reversal. The RSI(6) suggests slight recent relief, but still lacks strength.
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🔊 Volume:
• Average volume is declining in recent hours, indicating a lack of conviction from both buyers and sellers.
• Previous volume spikes were not accompanied by consistent breakouts, showing structural weakness.
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🧭 Technical Levels:
• Resistances:
• $390.08 (MA7)
• $397.97 (MA25)
• $409.97 / $413.97 (recent highs)
• Supports:
• $384.52 (local low)
• $373.93 (relevant support and previous low)
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✅ Conclusion and Strategy:
• Current Trend: Down
• Short-term Bias: Neutral-Bearish
• Possible Strategy:
• Conservative short entry if it loses $384.52, targeting $373–375.
• Long entry only above $398 with volume confirmation, aiming for the $410–413 region.
• Caution if consolidating between $385–395: indecision and lateralization region.
