The current ZEC market is clearly in a downtrend. Although the price is close to the support level of 438, the trading volume is very low, and there is a divergence between price and volume - meaning that the price is falling, but there aren't many transactions, which indicates that the current downtrend actually lacks sufficient momentum.
From the perspective of moving averages, the short-term, medium-term, and long-term moving averages are all in a bearish arrangement, and the price is also below all moving averages. Although the speed of decline seems to have slowed down a bit, the overall trend is still downward, and the price may continue to fall in the short term.
Short around 470-475, target 450; if it breaks down, then look for 440. $BTC $ETH
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11.29 ZEC analysis of ideas 📈
The current ZEC market is clearly in a downtrend. Although the price is close to the support level of 438, the trading volume is very low, and there is a divergence between price and volume - meaning that the price is falling, but there aren't many transactions, which indicates that the current downtrend actually lacks sufficient momentum.
From the perspective of moving averages, the short-term, medium-term, and long-term moving averages are all in a bearish arrangement, and the price is also below all moving averages. Although the speed of decline seems to have slowed down a bit, the overall trend is still downward, and the price may continue to fall in the short term.
Short around 470-475, target 450; if it breaks down, then look for 440.
$BTC $ETH