Free Token OG.
Claim can be made through the following link.
https://app.generallink.top/uni-qr/3qQi8zTg?utm_medium=web_share_copy
Post
Ghost Writer
·
--
BearishFor traders who care about $ZEC / Zcash
Short target met at $270. Relief bouncing as expected.
Price reclaimed the 61.8% zone at $310, which was crucial in preventing a flush to the 78.6% mark at $200. But unless $330 gets reclaimed short-term, high probability it retests $270 again.
Key metric here is the 200 SMA on the daily. Consecutive closes below and I think it slowly grinds toward $200.
For the chart to flip neutral, it needs a rally to $450. That would trigger a two-level breakout of the descending trendline + horizontal resistance.
Huge corrections like this are exactly why marrying narratives in crypto is dangerous. Much easier to play the chart in front of you.
By the time you understand the incoming move, you'll understand what the narrative is about.
{future}(ZECUSDT)
#zec #bearishmomentum
Short target met at $270. Relief bouncing as expected.
Price reclaimed the 61.8% zone at $310, which was crucial in preventing a flush to the 78.6% mark at $200. But unless $330 gets reclaimed short-term, high probability it retests $270 again.
Key metric here is the 200 SMA on the daily. Consecutive closes below and I think it slowly grinds toward $200.
For the chart to flip neutral, it needs a rally to $450. That would trigger a two-level breakout of the descending trendline + horizontal resistance.
Huge corrections like this are exactly why marrying narratives in crypto is dangerous. Much easier to play the chart in front of you.
By the time you understand the incoming move, you'll understand what the narrative is about.
{future}(ZECUSDT)
#zec #bearishmomentum
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.