$ZEC /USDT Big Ray 15-Minute Contract Market Analysis
1. Price and Trend
◦ The current price is 232.86 USDT, with a 24-hour increase of 6.13%. The price rapidly rose from the lowest point of 184.30, reaching a high of 236.82, demonstrating strong short-term rebound momentum.
◦ From the 15-minute candlestick chart, the price is in a clear upward trend and is effectively standing above the 7-period moving average (230.90) and the 25-period moving average (222.30). Meanwhile, the two short-term moving averages have also crossed above the 99-period moving average, forming a golden cross pattern, which is a relatively positive bullish signal.
2. Volume and Momentum
◦ When the price hit the bottom at 184.30, there was a significant increase in volume, which is usually seen as a signal of capital entering and a reversal in market sentiment.
◦ Subsequently, during the price's continuous upward movement, the trading volume remained active, indicating sufficient buying power.
3. Support and Resistance
◦ Support level: The first support below is the 7-period moving average at 230.90, followed by the 25-period moving average at 222.30, with a key support further down at the previous low of 184.30.
◦ Resistance level: The immediate resistance above is the recently established intraday high of 236.82, with further resistance to pay attention to at the marked position of 239.45 in the chart.
Big Ray's Trading Reference
• Bullish Idea: If the price can stabilize above 230, there is a possibility of challenging the previous high of 236.82 or even hitting 239.45.
• Risk Warning: Be cautious of the risk of a pullback after a rapid price increase. If the support at 230 is effectively breached, it may trigger some profit-taking, leading to a weakening of the short-term trend.
Note: The above analysis is based solely on the current technical information of the chart and does not constitute any investment advice.
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