⚠️ $ZEC
— A decline in momentum and the possibility of a bearish reversal
The price action shows clear signs of weakness after a limited upward attempt, as the price faced quick rejection and failed to maintain momentum, reinforcing the likelihood of sellers entering and taking control of the direction.
📉 Trading Plan (Short):
Entry Area: 217 – 219
Stop Loss: 223
Targets:
First Target: 212
Second Target: 208
Third Target: 200
🔻 Technical Analysis:
The recent rise came with weak momentum followed by quick rejection from the upper levels, indicating a decline in buying power. If this weakness continues, we may witness a faster drop with increased selling pressure.
📌 Conclusion:
If sellers enter strongly at these levels, it is likely that the direction will quickly turn bearish towards the specified targets.
👇🏻 Trade from here: