#ZEC
The price is moving in a descending channel on the 1-hour timeframe. It has reached the lower boundary and is heading towards breaking above it, with a retest of the upper boundary expected.
We have a downtrend on the RSI indicator, which has reached near the lower boundary, and an upward rebound is expected.
There is a key support zone in green at 296. The price has bounced from this zone multiple times and is expected to bounce again.
We have a trend towards stability above the 100-period moving average, as we are moving close to it, which supports the upward move.
Entry price: 334
First target: 352
Second target: 386
Third target: 430
Don't forget a simple principle: money management.
Place your stop-loss below the support zone in green.
For any questions, please leave a comment.
Thank you.
The price is moving in a descending channel on the 1-hour timeframe. It has reached the lower boundary and is heading towards breaking above it, with a retest of the upper boundary expected.
We have a downtrend on the RSI indicator, which has reached near the lower boundary, and an upward rebound is expected.
There is a key support zone in green at 296. The price has bounced from this zone multiple times and is expected to bounce again.
We have a trend towards stability above the 100-period moving average, as we are moving close to it, which supports the upward move.
Entry price: 334
First target: 352
Second target: 386
Third target: 430
Don't forget a simple principle: money management.
Place your stop-loss below the support zone in green.
For any questions, please leave a comment.
Thank you.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
🚨 For More Signals Join Telegram Channel ( Futures/Spot )
👉 t.me/CryptoSignalFuturesSpot
👉 t.me/CryptoSignalFuturesSpot
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.