$ZEC Price Action & Key Levels
The chart shows a significant correction following a sharp rally earlier in the month.
Current Price: $9.178 (approx. Rs 2,567.63).
Recent High: The coin peaked at $14.216, representing a substantial rejection from that level.
Support & Resistance: * Immediate Support: Around $8.58 to $8.90, which aligns with the recent local lows.
Resistance: The $10.18 level (EMA 200) is acting as a major overhead hurdle. Breaking back above $11.50 would be required to regain a bullish structure.
Technical Indicators
Exponential Moving Averages (EMA):
The price is currently trading below the EMA(7), EMA(21), and EMA(200).
EMA(7): 9.580
EMA(21): 9.870
EMA(200): 10.182
Since the short-term averages are below the long-term (EMA 200), the current trend is technically bearish.
Relative Strength Index (RSI):
RSI (6): 35.61
An RSI value near 30 suggests the coin is approaching oversold territory. While this indicates selling pressure is high, it also suggests that a temporary "relief bounce" or consolidation could happen soon as the selling becomes exhausted.
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