Swept liquidity above $400 again, then continued its flush. Nasty candle. Now sitting at $385, testing the local support zone, which has held multiple times since the lows. Lose it and price likely sweeps down toward $360 to clean out longs. Trend bearish across all timeframes + momentum fading + low volume = not much conviction from buyers above $400 at this stage. Needs to hold and bounce to keep the higher low structure intact. Otherwise, the corrective wave continues, and those lows are back in play.
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$ZEC / Zcash - This is bad
Swept liquidity above $400 again, then continued its flush. Nasty candle.
Now sitting at $385, testing the local support zone, which has held multiple times since the lows. Lose it and price likely sweeps down toward $360 to clean out longs.
Trend bearish across all timeframes + momentum fading + low volume = not much conviction from buyers above $400 at this stage.
Needs to hold and bounce to keep the higher low structure intact. Otherwise, the corrective wave continues, and those lows are back in play.