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Zcash / TetherUS

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ZECUSDT trade ideas

Bulls receive a rejection from the $160 mark The Zcash coin has been slipping lower since beginning of this week and has lost almost 9.8% in just 3 days in price. The market cap of the ZEC token is down 8.7% over the last night, which is now $1.9 billion. Panic sellers are approaching the 200-day moving average on the daily price chart. If the bears manage to close today's price candle below the 200-MA, the remaining MA could act as a support level for the buyers. Stoch RSI is retreating from the overbought area. The RSI is likely to bounce back from the bullish trend line (white). Furthermore, the Average Directional Index is indicating a weak bearish momentum for the ZEC coin. Today the price of ZEC has slipped below the narrow horizontal range the coin was trading in for over 4 days. The 100-MA could act as a dominance zone for buyers for the upcoming trading sessions. Resistance level- $190 and $300 Support level- $100 and $80
Short
by TheCoinRepublic
Potential Swing Bearish/Short ZEC UsdtTaking into account the current bearish nature of the market,most of the times those assets that tend to pump hugely without any logical reason except pump and dump scenarios, tend to crash the hardest as well. I believe this asset is a strong candidate for this type of trading. Key points: Type of Trade : Short Stop loss - 190 - 25% movement Take profit - 90 - 40% movement Capital used - 1% of the account for stop loss making a 1.6 profit factor trade in case of winning
Short
by exlux
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