$ZEC
ZECUSDT — Sharp Correction After Massive Rally
ZECUSDT is trading near $335, experiencing a significant correction (-13.69% weekly, -24.29% monthly) after an enormous long-term rally (+781% over 180 days). Price is now testing the $335-$340 support zone, which aligns with a previous resistance-turned-support level and the 0.382 Fibonacci retracement of the recent up move.
Trade Plan
Entry (Long): $330 - $338 (Scale into the key support and Fib zone)
Target 1: $359 - $370 (Retest of recent breakdown level and swing high)
Target 2: $390 - $400 (Next resistance and measured move target)
Stop Loss: $324 (Clear break below support and recent low)
My View
ZEC is in a healthy pullback after a parabolic rally. The $330-$340 zone represents a high-probability value area for trend continuation. This setup offers a favorable risk-reward for a swing trade back toward recent highs. A break below $324 would signal a deeper correction, potentially to the $300-$310 area. Given the asset's volatile history, position sizing should be conservative.
