Binance ZEC (Zcash) Technical Analysis UpdateDon't use bold style #BTC60KResistance
Price: $36.06 (+21.37%)
Time Frame: 4-hour
Current Trend: Strong Bullish Momentum
ZEC has surged, showing a significant breakout from $27.66, hitting a 24h high of $36.54. This rapid growth aligns with increasing buy volume and momentum as indicated by the SAR and moving averages.
Key Technical Indicators:
SAR (Parabolic SAR) shows strong upward momentum with the trend remaining bullish above $30.82.
MA5 (Moving Average 5): $69,281.55
MA10 (Moving Average 10): $45,923.43
Volume: Increasing, suggesting higher market participation in the bullish rally.
📈 Potential Targets:
1. Target 1: $37.50 – Short-term resistance; a likely level where profit-taking could occur before further movement.
2. Target 2: $40.00 – A major psychological resistance and a potential breakout level if bullish pressure continues.
3. Target 3: $45.00 – Medium-term target; if the current uptrend holds, this could be the next significant resistance level.
Support Levels:
Immediate support lies around $30.82, the SAR level, and stronger support around $27.66, the breakout zone.
Outlook: As long as ZEC stays above $30, the bullish trend is likely to continue. Watch for volume spikes as confirmation for sustained momentum.
