If it breaks below the 507 level, all short positions should be stopped out, which may trigger a larger correction extending to the 4-hour timeframe. At that point, it might retest the support near the 30-minute Vegas moving average, approximately around the 485 level. A rebound from there would be a healthier move.
Conversely, once it breaks below the 30-minute Vegas channel, do not look for bullish moves anymore; instead, consider a downtrend or sideways consolidation.
From a higher timeframe perspective, there are two reference methods to estimate the potential upside. Using logarithmic coordinates, the upward channel could potentially reach over 600; using linear coordinates, the top of the upward channel is around 555. But there's a premise — as long as the price remains within the channel, it can only be considered a strong rebound. To confirm a new high, it must break through the upward channel.
Honestly, if Bitcoin drags down later, ZEC probably won't escape either, so it's safer to stay a bit conservative.
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ApeDegen
· 13h ago
Once 507 is broken, we'll admit defeat. Let's see the true strength at 485.
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probably_nothing_anon
· 13h ago
Break at 507 and run, or wait for 485 to bottom out. Anyway, if Bitcoin drags, ZEC will have to kneel along.
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MetaverseHomeless
· 14h ago
Breaking 507 will be troublesome; we'll have to see if 485 can hold up then.
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555 is still 600; the key is to break through for it to count. Right now, it's just a strong rebound.
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If Bitcoin drags down, ZEC is doomed. It's safer to stick to stop-losses.
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Vegas moving averages are a bit mystical; are they really that accurate?
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Within the channel is just a rebound; to turn around, we need a breakout. The logic is sound.
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Being conservative isn't wrong; after all, Bitcoin rules the market. ZEC will just follow along.
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If the 485 level can really hold, the rebound potential becomes interesting.
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Short-term bulls need to hold tight; if below 507, just exit. Don't be greedy.
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HodlTheDoor
· 14h ago
Breaking 507 means you have to cut losses; otherwise, being trapped is too painful.
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That's right, if Bitcoin isn't strong, ZEC is useless no matter how powerful it is.
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If this wave can break above 555, I will believe in the upward trend. It's still early now.
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Analyzing so meticulously every day, but in the end, isn't it just slapped back to the starting point by the market?
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Being conservative is not wrong; the crypto market is too risky, and not holding any position can easily lead to a flip.
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I think 485 can hold, but breaking below would be a real trap.
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Looking at over 600 on the logarithmic scale sounds good, but who can say for sure about the actual trend?
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Let's wait a few more days; entering now is a bit rushed.
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How reliable are Vegas moving averages? It feels like they always break.
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GasFeeCrier
· 14h ago
507, as soon as I break, I run. No need for so many considerations. When Bitcoin moves, ZEC follows and gets wrecked.
ZEC's current short-term strategy is as follows:
If it breaks below the 507 level, all short positions should be stopped out, which may trigger a larger correction extending to the 4-hour timeframe. At that point, it might retest the support near the 30-minute Vegas moving average, approximately around the 485 level. A rebound from there would be a healthier move.
Conversely, once it breaks below the 30-minute Vegas channel, do not look for bullish moves anymore; instead, consider a downtrend or sideways consolidation.
From a higher timeframe perspective, there are two reference methods to estimate the potential upside. Using logarithmic coordinates, the upward channel could potentially reach over 600; using linear coordinates, the top of the upward channel is around 555. But there's a premise — as long as the price remains within the channel, it can only be considered a strong rebound. To confirm a new high, it must break through the upward channel.
Honestly, if Bitcoin drags down later, ZEC probably won't escape either, so it's safer to stay a bit conservative.