🐻 $ZEC solid downtrend on 1Day chart, no doubt about it. For trading daily timeframe, I'm going cautious short
On the volume side, I've noticed those recent candles with big selling action, like that 6.3M spike when it broke below 430. That screams real pressure from sellers. And today's volume at 2.76M? Yeah, it's keeping that bearish vibe alive.
Capital flows aren't helping either – we're seeing steady outflows everywhere: -34.4M in the last 24 hours, a whopping -269.2M over 7 days. That -33.1M in just the past hour really stands out for short-term moves.
Best to jump in short $ZEC around current prices, say 402-408, or wait for a little rebound up to 420-425 if you want a sweeter spot.
Stop loss at 435 USDT (that's about 8% from a 402 entry).
Aiming $ZEC for 365 USDT as target – could net around 9% if it plays out.
ZECUSDT
Perp
429.39
+2.94%