ZEC pivot of doom?
ZEC has been on a tear recently after bouncing off the 0.016 level but has hit a brick wall on its way back up to the supply block around 0.0207.
We still have a CR UP printed on the Daily chart BUT an orange pivot candle seems to have appeared today, which as previously shown, could spell some downside for ZEC here. Obviously, we would need the candle to close like this before getting to any conclusions but this is a warning sign.
The fast-moving EMA has curled upwards but the slow-moving still trends slightly down as it remains resistance.
We currently are sitting right on top of the demand zone so as long as we hold here, we could expect that the uptrend will continue especially with the possible Coinbase listing in the near future.
Thanks guys
We still have a CR UP printed on the Daily chart BUT an orange pivot candle seems to have appeared today, which as previously shown, could spell some downside for ZEC here. Obviously, we would need the candle to close like this before getting to any conclusions but this is a warning sign.
The fast-moving EMA has curled upwards but the slow-moving still trends slightly down as it remains resistance.
We currently are sitting right on top of the demand zone so as long as we hold here, we could expect that the uptrend will continue especially with the possible Coinbase listing in the near future.
Thanks guys
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