$ZEC : "Firewall" EMA 50 & Overbought Rejection 📉
Trading Setup: Short
Entry Zone: 410 – 415
SL: 419
TP1: 398
TP2: 393
TP3: 387
Technical Analysis
$ZEC is currently facing a formidable "Firewall" at the Daily EMA 50 (approx. $413.5). This level has consistently acted as a pivot point for trend reversals during the recent volatility. The price is currently trading near $397 - $400, making a move into the 410+ zone a high-probability area for seller re-entry.
Momentum: The 1-hour RSI recently touched overbought levels (near 78), signaling that the short-term relief rally is likely exhausted. This suggests an imminent cooling-off period and potential profit-taking by buyers.
Structure: While the broader market shows "Extreme Fear," $ZEC has been rejected repeatedly at the $405 – $415 resistance block. Failure to clear this EMA 50 barrier reinforces the dominant bearish trend established after the crash from $750.
Execution Trigger
This setup capitalizes on the confluence of major daily resistance and overextended intraday momentum. Short entries are favored on a retest of the 410 – 415 zone. The trade is invalidated by a breakout above the 419 Stop-Loss. Targets look for a return to the local support cluster, specifically aiming for 398 and extending to 387.
