📉 $ZEC
Relief Bounce Testing Resistance!
Zcash ($ZEC) is attempting a recovery, but don't let the green candles fool you. The price is hitting a brick wall within a clear long-term downtrend. This push higher looks more like a "dead cat bounce" or a corrective move rather than a trend reversal.
🔴 Short Trade Setup:
Entry Zone: 268 – 274 (Wait for the rejection in this supply cluster)
Stop Loss (SL): 305 (Strict exit above the psychological barrier)
Leverage: Managed leverage is advised due to ZEC's high volatility.
🎯 Take Profit (TP) Targets:
TP 1: 240 (Back to recent support)
TP 2: 210 (Targeting the $200 liquidity pool)
TP 3: 185 (Major extension target if the downtrend accelerates)
💡 Why this setup?
Resistance Rejection: The momentum is rolling over as buyers fail to find acceptance above the 20-day EMA (~$283).
Whale Activity: Data shows large holders have reduced positions by nearly 38% recently—this is a massive distribution signal.
Bearish Structure: As long as $ZEC remains below $300, the path of least resistance remains downward.
Perfection Bano: Patience is key. Let the price come to your entry zone and confirm the rejection before jumping in. Protect your capital first! 🛡️
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