Recently, I've been monitoring the trend of ZEC. After rebounding from the low of $301, this wave of market movement has formed a quite standard upward channel. Looking at the support of the trendline, the logic for the rise is actually quite clear.
Currently, the price has returned to the key support level around $506, which is worth paying attention to. Interestingly, during the correction, the trading volume did not significantly increase, indicating that large funds have not truly exited the market, and signs of shakeout are quite evident.
From a technical indicator perspective, the RSI has fallen back from the overbought zone into a relatively healthy range, which has somewhat alleviated short-term risks. This state usually accumulates strength for the next round of upward movement. The previous high was at $535, and the target after breaking through could point to the $600 mark.
From the current position, this looks very much like a lull before the storm—major players might be giving the last chance to get on board. Once a breakout is confirmed, subsequent performance will be worth watching.
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ApeEscapeArtist
· 8h ago
The calm before the storm, I love this saying. 506 is indeed a good location. Don't miss the chance to jump on board!
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MetaverseHermit
· 8h ago
Is 506 really a deadlock point? Are the major players giving one last chance?
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GhostAddressMiner
· 8h ago
Point 506 is indeed suspicious. I spent a long time checking the on-chain footprints, and the fund flow patterns of several large wallet addresses don't match at all... Either something is brewing, or someone is deliberately creating a false breakout illusion.
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OnchainGossiper
· 8h ago
Position 506 is indeed a bit risky; whether it's a shakeout or a real decline is hard to tell.
Let's wait until a breakout before making any moves. Don't fall for the tricks.
The main players have too many tricks up their sleeves; let's just sit back and count the money.
If this wave can really break 600, it's not too late to boast then.
Without volume support, everything else is pointless.
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QuorumVoter
· 8h ago
Position 506 is indeed being washed, feels like the old trick again.
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GasFeeCrier
· 8h ago
I am optimistic about this key level at 506. The aggressive shakeout must mean the main force is taking action.
Recently, I've been monitoring the trend of ZEC. After rebounding from the low of $301, this wave of market movement has formed a quite standard upward channel. Looking at the support of the trendline, the logic for the rise is actually quite clear.
Currently, the price has returned to the key support level around $506, which is worth paying attention to. Interestingly, during the correction, the trading volume did not significantly increase, indicating that large funds have not truly exited the market, and signs of shakeout are quite evident.
From a technical indicator perspective, the RSI has fallen back from the overbought zone into a relatively healthy range, which has somewhat alleviated short-term risks. This state usually accumulates strength for the next round of upward movement. The previous high was at $535, and the target after breaking through could point to the $600 mark.
From the current position, this looks very much like a lull before the storm—major players might be giving the last chance to get on board. Once a breakout is confirmed, subsequent performance will be worth watching.