ZEC/USDT
What is the Bounce Back
(Bounce Back)
close to? 🚀📉
ZEC (Zcash)
🔍 Current Situation:
The price is attempting a recovery after recently touching a low of $184.30. Currently, it is trading at ZEC $238.70, but is still waiting for a major breakout.
📊 Technical Indicators:
Resistance:
Immediate obstacle is at $255
(EMA 9)
, while major resistance
is at $297 (EMA 21).
Support:
The recent low of $184 has become a strong support zone.
RSI: 46.42
, which indicates that the market is currently balanced and a significant move can happen in either direction.
💡 Trading Idea:
As long as the price does not break above the $255 and $300 zones, bearish clouds will remain over the market. Cautious traders should wait for a candle close above EMA 21.
What do you think?
Will
ZEC
reverse from here or go further down? Let us know in the comments 👇
#ZEC #CryptoAnalysis #BinanceSquare #TradingTips #Write2Earn
