$ZEC /USDT SHORT TRADE SIGNAL
TECHNICAL ANALYSIS
The chart shows a clear bearish reversal following a rejection at the $418.75 local high. Price action has broken below the EMA(7) (Yellow) and EMA(25) (Pink), which are now sloping downward, acting as dynamic resistance. The current price is testing the EMA(99) (Purple) support around $396.86. A sustained break below this level confirms a continuation of the downtrend toward the recent swing low.
TRADE SETUP
Entry Strategy: Sell/Short on a break below $395 or on a retest of the $398-$400 resistance zone.
Target 1 (TP1): $390.00
Target 2 (TP2): $385.50
Stop Loss (SL): $405.50 (Above the recent lower high and EMA resistance)
SHORT OUTLOOK OF MARKET
The broader crypto market is currently experiencing a neutral to cautious correction. While Bitcoin remains stable above $90k, privacy coins like Zcash are facing local volatility due to governance shifts and a "sell the news" reaction following recent updates. Expect consolidation with a bearish bias until significant buying volume returns to reclaim the $410 level.
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