🔥$ZEC Bearish consolidation with minor rebound attempts, I'd consider Long position on 1-hour timeframe
• Price action shows consistent lower highs since testing 375.65, with multiple rejections near 367-372 zone.
• The recent bounce from 350.44 (24H low) formed a bullish engulfing pattern with above-average volume, suggesting potential near-term bottom formation.
Recent candles show increasing volume during upside moves with 174k volume, suggesting some accumulation at lower levels
Capital Flow: Mixed signals with recent 1H contract inflows (+1.24M) contrasting with 4H outflows (-6.14M). Spot markets show similar pattern with 1H inflows (+804k) but larger timeframe outflows
Entry Long $ZEC : On retest of 355-357 support confluence (MA5 previous resistance turned support)
Stop Loss: 346 USDT (3.5% risk from entry)
Target Levels $ZEC : 367 (immediate resistance), 372 (secondary resistance)
Support me just Click below to Trade 👇 Cheers.
While short-term indicators suggest potential rebound, the broader trend remains bearish below 367. Any break below 349 invalidates the long thesis immediately. #zec #zecusdt #zcash