$ZEC looking pretty bearish overall, but with some consolidation vibes that could hint at a pause. For trading on 1-hour timeframe, I'm staying cautiously bearish, though there's room for a quick rebound.
Volume's painting a clear picture: Recent K-lines have heavy selling on the drops, like that 278k whack at 399.6 USDT, and then these weak rebounds on thin volume, which just screams bears in control. That said, the newest candles are quieter, so maybe the sellers are starting to chill out a bit.
Flows aren't helping the bull case either – big net outflows on contracts over 24H (-11.12M USDT) and spot too (-12.91M USDT), pointing to both big money and retail heading for the exits. Shorter timeframes like 5m to 1H are a mixed bag, but the vibe's still mostly negative.
For entries shorts
$ZEC : I'd think about shorting near resistance like 409 USDT if it can't push higher. Or hold off for a clean break under Support level at 390.2 USDT to lock in more downside.
Stop loss: Keep it 3-4% from where you get in – say 422 USDT on shorts or 380 USDT if you're going long somehow
Targets: On shorts, shoot for Support zone at 383.6 USDT or lower. Longs only if you see a real bull flip, then aim for Resistance level at 409 USDT or beyond.
Anyone else seeing this setup?
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