Based on the $ZEC 1 hourly candlestick chart and the attached ICT short-term market profile, there are technical signals indicating a bearish (pullback) bias.
Here’s a technical breakdown based on the chart lines and price action:
Market Structure Shift (MSS): The chart clearly indicates a red "MSS", which means the price has broken below a key local low that maintained the previous uptrend. In ICT theory, this is often the initial confirmation of a short-term trend shifting from bullish to bearish.
Liquidity Hunt and Rejection: After sweeping the "Buyside Liquidity" in the upper region, the price failed to stabilize and subsequently dropped. Recently, the price rebounded upward, testing the red bearish order block and Fair Value Gap (FVG - OB, around the 600-620 range) marked above, and was clearly rejected (closing with a long upper wick or a bearish candle down), indicating substantial selling pressure above.
Draw on Liquidity: In a scenario where the structure has shifted bearish and encountered resistance at a high, the price tends to seek liquidity below. A blue bullish order block ("+OB", roughly around 550) is marked on the lower part of the chart, which could be a potential target or support level for a short-term drop.
Summary: From the current 1H technical structure, ZEC appears likely to continue its downward retracement in the short term after experiencing a liquidity sweep at the top, a market structure break (MSS), and rejection at the upper FVG.
Disclaimer: Technical analysis merely reflects the current state of the chart objectively. The crypto derivatives market is highly volatile; it’s advisable to consider the overall market direction (like BTC) and strictly set stop-loss levels to manage risk.
$LAB is still pumping and about to break through the last key resistance level. When that happens, I'll set my stop loss for the long position, not sure how much further it will moon.