🚨 $ZEC strong downtrend right now, and it's picking up speed.
Price context: It's tanked 22% from the 24h high of 491, barely hanging 1.18% above the low at 397. We're seeing lower highs, lower lows, and volume building on the downs – total distribution vibe. Smashing through that 429 lower Bollinger Band? Yeah, that's momentum saying "more to come," not a bottom.
Volume check: Those recent candles are telling – volume jumps on the drops, which screams sellers are in control. Bounces? Meh, low volume means buyers aren't really stepping up.
Capital flows: Outflows everywhere, steady as she goes (24h contracts at -180M USDT, spot at -47M). Same story from 5m charts all the way to 7D – money's just fleeing, no real pushback.
Entries shorts $ZEC : Grab a short on any pop back to 415-420 USDT (that's old support now resistance). Or go aggressive under 405 if you're feeling it, but keep stops tight.
Stop loss: 3% over your entry (around 425-432 USDT, watch that 4H resistance bunch)
Targets $ZEC : First at 380.40 USDT (support), If it keeps rolling, push to 339.78 USDT (next support) but wait for confirmation on the move.
ZECUSDT
Perp
404.27
-16.97%
Heads up: This is for folks okay with risk since momentum's fierce. RSI's oversold, so watch for quick snaps up
