$ZEC 🔥 ZEC/USDT – Daily Chart Update 🔥
ZEC is currently facing strong bearish pressure after a clear rejection from the $550–560 major resistance zone. Price is trading around $398, staying below key moving averages, which keeps the short-term trend bearish.
📉 Market Structure:
Lower highs and lower lows confirm a bearish continuation structure. Bulls are still weak and volume does not support a strong reversal yet.
📊 Indicators Insight:
Price below MA(7), MA(25) & MA(99) → trend remains bearish
RSI ~33 → near oversold, small relief bounce possible
Selling volume dominates → distribution phase
🧱 Key Levels to Watch:
Support: 392 – 385
Next Supports: 360 → 305
Resistance: 420 – 425
Major Resistance: 465 → 550
🔻 Bearish Scenario (Preferred):
If price fails to hold $392, further downside toward $360 and $305 is likely.
🔺 Bullish Relief Bounce:
A short-term bounce is possible if support holds, but strong rejection is expected near $420–460.
⚠️ Conclusion:
Trend remains bearish. No confirmation for a strong long yet. Best approach is wait for confirmation or sell on resistance.
📌 Trade smart. Manage risk. Follow the trend.
