1-Day Chart
On the 1-day chart, the price of ZEC/USDT is currently trading at $31.76 after a significant upward move. The RSI stands at 53.47, indicating neutral momentum. The MACD shows a potential bullish crossover with the MACD line at 0.15, the signal line at -0.37, and the histogram at -0.52, suggesting a possible upward movement. The 200-period moving average (SMA) at $28.13 has been breached, acting as a significant support level now.
4-Hour Chart
On the 4-hour chart, the price has rebounded from a recent low and is testing higher resistance levels. The RSI is at 62.02, indicating slightly bullish momentum. The MACD is showing a positive signal with the MACD line at 0.19, the signal line at 0.26, and the histogram at 0.07, supporting the potential for further upward movement. The 200-period SMA at $31.70 acts as a critical resistance level that has been breached.
Bullish Scenario
If ZEC/USDT can maintain its current momentum and stay above the 200-period SMA on both the 1-day and 4-hour charts, it could trigger a bullish rally. A successful breach of this moving average would confirm a bullish reversal, potentially targeting the next resistance levels at $35 and $40. Continued positive sentiment and buying pressure could drive the price even higher.
Bearish Scenario
On the downside, if ZEC/USDT fails to sustain above the immediate support of $30, it may retest lower support levels around $28. A drop below these levels could accelerate the decline, with the price potentially testing the next support zone around $25. Sustained bearish pressure could push the price further down, leading to a prolonged downtrend.
Disclaimer
This analysis is for informational purposes only and should not be considered financial advice. Always conduct your own research and consult with a financial advisor before making investment decisions.
