ZEC has seen a 'death cross'! Is this a warning of a crash or a good opportunity to buy the dip? The I Ching gives you a wake-up call in one sentence!

ZEC This trend makes my palms sweat! The price is currently stuck around $390, with support below and resistance above. Is today going to be a 'bottom rebound' or a 'continued bottom exploration'? Don't rush, the I Ching will guide you layer by layer!

Technical Analysis:

Currently, the one-hour chart for ZEC shows a clear weakness, with the MACD dead cross combined with increased selling volume, indicating that the bears are still in force. Key positions to watch: the upper level at 418 is the intraday resistance, and 445 is the pullback resistance. If these two levels cannot be broken, it presents an opportunity for short positions. For the lower side, first look at the range of 395–364; if it holds, there could be a short-term rebound opportunity; if it breaks, it is likely to go to 334 to find support!

News:

Recently, the sentiment in the cryptocurrency market is rather cold, with regulatory concerns resurfacing, and the anonymous coin sector is under obvious pressure. Although ZEC has technical characteristics, the overall market is unstable, making funds prone to risk aversion. Additionally, without strong positive stimuli recently, it is difficult to have an independent rebound in the short term.

Personal opinion:
I am bearish! ZEC has not yet fully dropped in this wave, the dead cross has just formed, and the volume has not shrunk, so there’s a high probability it will go down further. The ideal scenario is to first rebound to around 418, face resistance, and then test the support at 364. If 364 cannot hold, 334 may be the endpoint of this wave. Remember: do not buy the dip easily without a significant bullish candle!

Player suggestion:

If you still hold long positions, it's advised to reduce your holdings or stop loss when it rebounds to around 418.

Brothers with no positions, don't rush. Wait for a rebound to the 418–445 range to gradually establish short positions, targeting first at 395, and if it breaks, look at 364.

If it really hits near 334, you can start to ambush long positions in batches, but be sure to buy slowly, don't go all in at once!

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