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ZEC — Bears Take Control

We formed a double top right around the 2.0–2.1 Fib extension target, followed by a break of the bullish trend on the 1H timeframe. Since then, the bears have started taking control.

RESISTANCE ZONE:

The current key resistance is the $1500 psychological level, where price has already rejected twice.
The anchored VWAP resistance is also sitting right around $1500, giving us another layer of confluence.
The 0.382 Fib at $1486 was the ideal short entry and lined up nicely with the resistance zone.

SUPPORT ZONE:

For the next long opportunity, I’m watching the $1300–$1240 support zone, where we have plenty of confluence coming together.
The $1270 level would be the ideal entry for me. If we get the reaction from this zone, the first target would be back towards the $1350 swing low.

As always, I’d rather wait for price to come into the levels than chase the move in the middle.

🔍 Indicators used

Multi Timeframe 8x MA Support Resistance Zones [SiDec] → to identify support and resistance zones

➡️ Available for free. You can find it on my profile under “Scripts” and apply it directly to your charts for extra confluence when planning your trades.

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노트

$1400 acted as resistance zone: