3 days ago
6
Key Takeaways:
- ZEC dropped 6.2% in 24h but found support exactly at 0.236 Fib ($569.98).
- $689 has rejected price four consecutive times in the past seven days.
- From current price, $689 resistance represents approximately a 20% move.
- Futures CVD buy dominant every day since April 26, spot CVD entirely neutral.
- RSI cooling at 53.64, signal at 62.35 – momentum pulling back not reversing.
Zcash dropped 6.2% in the past 24 hours before stopping exactly at the 0.236 Fibonacci retracement level at $569.98. In the past few hours price has been recovering from that level and is now testing it as support rather than sitting on it in distress. The current price of $577.50 is trying to confirm $569 as a floor before making another attempt at the level that has blocked every push higher for the past week.
The $689 problem
The $689 level has now rejected price four times in seven days. Every attempt to close above it has failed. That kind of repeated ...
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