$ZEC Zcash (ZEC) Technical Analysis
· Current Price: $399.44
· 24h Range: $379.63 - $418.14
Technical Indicators
· RSI (14): 43.75 (Neutral)
· MACD (12, 26): -14.51 (Negative)
· 50 EMA: ~$434.66
· 200 EMA: ~$435.41
Analysis & Sentiment: Bearish. Price is trading below the key 50 and 200 Exponential Moving Averages, confirming a downtrend. The negative MACD reinforces bearish momentum. A recent major breakdown was triggered by a crisis of confidence following the resignation of the core development team, which shattered market sentiment.
*Trade Setup
· Signal: Hold / Sell on rallies. Await a trend reversal confirmation.
· Entry: N/A for new longs. Consider short positions on a rejection near the 50 EMA (~$435).
· Stop Loss: Above $440 for short trades.
· Target 1: $361
· Target 2: $300 (Key Fibonacci & Psychological Support)
· Target 3: $253
Short-Term Outlook: The path of least resistance is down towards the $360-$300 support zone. Any recovery is likely to face strong resistance at the EMA cluster around $435. A sustained close above $440 is needed to invalidate the immediate bearish structure.
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Disclaimer: This analysis is for informational purposes only. It is not financial advice. Always conduct your own research (DYOR) and manage risk appropriately, as cryptocurrency trading carries significant risk of loss.