🔥$ZEC
The daily chart is currently in a range-bound consolidation, but the 4-hour chart clearly shows a bearish trend. The 1-hour chart is testing the key resistance area around 393.33, which is just near the 1-hour 50-day moving average (EMA50). This is a typical bearish pullback. The key to 'why this is happening now' lies in momentum: the 15-minute Relative Strength Index (RSI) has been overbought at 69, indicating that the momentum of this rebound is weakening. A drop below 391.06 will confirm that sellers are entering the market, with a target price of 379. The trading strategy is clear: wait for a short signal and short in line with the established 4-hour downtrend. Operational settings (short) Entry point: market price 391.064905 – 395.595095 Take profit point 1: 379.739428 Take profit point 2: 375.209238 Take profit point 3: 366.148857 Stop loss point: 406.920571