$ZEC /USDT's structure seems more volatile than the rest of the market.
After a strong rejection on the 15m timeframe, clear profit-taking and sell pressure are now visible.
Current price:
587.62
Day high: 657.47
A huge rejection has already occurred from the upper zone.
EMAs:
EMA(7): 591.49
EMA(25): 595.65
EMA(99): 613.46
The price is below all EMAs, indicating a short-term bearish continuation.
Most important observation:
Sharp rejection from 612.
Consecutive red candles.
Order book is heavily seller-dominated:
Sellers: 81%
Momentum is aggressively cooling down after the pump.
Trend structure:
Key levels: Support:
580 is the major support level.
If 580 breaks:
565
548
530 is possible.
Resistance:
591
596
Strong resistance: 612–615.
Trading view: It could form a “dead cat bounce” type structure because:
A huge pump has already occurred.
The move was overextended.
Profit booking has aggressively started.
Possible setup:
A weak bounce towards 592–596 looks shortable.
SL above 605.
TP:
580
565
A bullish recovery will only be confirmed if:
ZEC reclaims 596
and sustains above 600 with volume.
Right now, the risk seems more to the downside since vertical pumps usually lead to equally aggressive pullbacks.
#ECBOpposesEuroStablecoinExpansion #SaylorConsidersBTCYearEndSale #UniswapProposesMultiChainFeeBurn #BankOfAmericaDiscloses53MCryptoETF #BitdeerZeroNetBitcoinHoldings
After a strong rejection on the 15m timeframe, clear profit-taking and sell pressure are now visible.
Current price:
587.62
Day high: 657.47
A huge rejection has already occurred from the upper zone.
EMAs:
EMA(7): 591.49
EMA(25): 595.65
EMA(99): 613.46
The price is below all EMAs, indicating a short-term bearish continuation.
Most important observation:
Sharp rejection from 612.
Consecutive red candles.
Order book is heavily seller-dominated:
Sellers: 81%
Momentum is aggressively cooling down after the pump.
Trend structure:
Key levels: Support:
580 is the major support level.
If 580 breaks:
565
548
530 is possible.
Resistance:
591
596
Strong resistance: 612–615.
Trading view: It could form a “dead cat bounce” type structure because:
A huge pump has already occurred.
The move was overextended.
Profit booking has aggressively started.
Possible setup:
A weak bounce towards 592–596 looks shortable.
SL above 605.
TP:
580
565
A bullish recovery will only be confirmed if:
ZEC reclaims 596
and sustains above 600 with volume.
Right now, the risk seems more to the downside since vertical pumps usually lead to equally aggressive pullbacks.
#ECBOpposesEuroStablecoinExpansion #SaylorConsidersBTCYearEndSale #UniswapProposesMultiChainFeeBurn #BankOfAmericaDiscloses53MCryptoETF #BitdeerZeroNetBitcoinHoldings