Market Analysis — ZEC

Many friends are curious about ZEC's trend. Simply looking at its overall structure, the trend is very clear. In summary: on a higher timeframe, there is structural resistance, so don't expect too much, but the internal levels are active, and long-term support is still in place. For intraday trading, focusing on long positions in the long term and short positions in the short term is supported.

From the daily chart perspective, the market started in early September. During the surge in early November, the daily candles consistently stayed above the MA30, indicating a holding pattern with anticipation of a rise.

The large bullish candle on November 7 signaled the exhaustion of upward momentum. By November 27, after repeated fluctuations, the price broke below the MA30 and formed an M-top pattern. However, the bullish support below still exists, indicating that the price has entered a new phase of short- to medium-term selling pressure and long-term bullish struggle (oscillation trend), which is the current environment of price fluctuation.

Opportunities on the daily chart include: buying on dips near the long-term support after a decline, and taking profits on further rises toward the upper resistance area.

Short-term support levels are 492~470 (quick in and out), and secondary support at 426~414 (quick in and out). The current position is in the area of the previous M-top neckline, which has resistance (due to the past 46H rally and sideways movement). There have been two previous pullbacks after surges; the third time should reserve a slightly higher position. Major selling pressure can be referenced at 605~649.

Short-term support based on pattern can be around 330~311. If the price consolidates sideways for about ten days and then moves higher, an entry around 370 for quick trades is recommended. #ZEC