Today is the 47th day of shorting ZEC, with 43 days left until the three-month target. Another day of sharp decline, the exit from losses is near!!!
ZEC current price is 1241, with a single-day drop of 6.45%, breaking down quickly in the short term.
WMA moving averages are all turning downward, price is firmly below the moving averages, confirming a bearish trend. RSI6=40.66, has fallen back to a weak zone; MACD's DIF is below DEA, green bars are increasing, releasing downward momentum. KDJ formed a death cross, J value is declining.
24-hour range: high 1347, low 1225, currently near the low. Resistance above at 1280, strong resistance at 1320; first support below at 1200, if broken will continue to decline.
Market logic: Earlier speculation was based on ETF application news without substantial capital support. After the market weakened, bullish expectations were realized, selling pressure concentrated and released, with volatility much greater than BTC and ETH.
Summary: Short-term bears dominate, although there is a slight rebound, it is a correction after the decline. Do not bottom fish lightly; focus on whether the 1225 low can hold and wait for a stop-fall signal.
Risk warning: This is only a market review and does not constitute investment advice. #9月FOMC纪要公布，多数官员倾向再加息#ETF仍在流入，BTC为何下跌？#跟着OKX打卡2049$BTC$ETH$ZEC
