Here’s a concise technical analysis of the $ZEC
/USDT pair:
Technical Analysis:
Current Price: $59.00
Trend: Bullish momentum with a +13.55% gain in the last 24 hours.
Support Levels: $51.36 (24h Low), $56.10 (recent depth).
Resistance Levels: $61.35 (24h High), $61.74 (current resistance).
Trade Signal & Targets:
Buy Signal: Consider entering at the current level near $59.00, as the price has been trending upward.
Entry: $59.00 (close to recent support).
Target Levels:
1. Target 1: $61.35 - Near the 24h high, a good short-term resistance level.
2. Target 2: $63.50 - Breaking the previous resistance could lead to further gains.
3. Target 3: $66.00 - Psychological resistance and a possible area for extended bullish momentum.
Momentum:
The market is showing strong bullish momentum (+13.55%), suggesting further upside potential.
Monitor volume, as higher volume around key resistance zones could signal a breakout or rejection.
Stop-Loss Recommendation:
A prudent stop-loss would be placed at $56.00 to limit risks, in case of price pullback.
Ensure to monitor market fluctuations and adjust orders accordingly.
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