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ZECUSDT trade ideas

Weekly support has been completely broken!ZEC has been falling in price over the past few weeks with selling pressure building across the market, and the currency's weekly support range of $45-$50 has been completely broken, turning into resistance. As you can see, in the past, there was a descending channel for the price; the extension of this channel and the selling pressure led the price to the second descending channel. Also, the two support levels that we considered at the prices of $41 and $36 have been associated with a very positive reaction in the second range. The price of this currency has returned to the first downward channel, and if the short-term and favorable market conditions continue, there is a possibility that the price will meet the specified resistance and creates a range trend below the resistance. According to the good return observed on the RSI, if it hits the support level again, the potential for a positive divergence and formation of trend change signs is high.
by MonoCoinSignal
5
ZEC has maintained its trend!ZEC, which was in a downtrend, has maintained its trend, and the price of this currency fluctuates within the downtrend. The selling pressure has brought the price to the weekly support range, which was associated with a positive reaction in the first meeting. Support in the $45-$50 range was once associated with a 60% positive reaction. But it should be noted that this positive reaction in the downward trend is considered as a pullback in a higher time frame. For the short-term, the resistance of the $55 range, if it is retaken by buyers, could signal a trend reversal in the 4-hour time frame. You can also draw a downward trend line in the 4-hour time frame, and if the trend line breaks and the resistance of the $52 range are broken, we can expect the price to grow to the $55, $58, and $60 targets.
by MonoCoinSignal
10