$ZEC …..! Trapped Under Descending Resistance … Chance of Breakdown Looms Higher
Short
Entry: 495 & 505 SL: 547.66
TP1: 478.43 TP2: 455.00 TP3: 425.36
ZEC respects a descending trendline despite its inability to break above the 520 resistance level, thereby forming lower highs and indicating waning bullish bias. Price action remains compressed below the declining resistance trendline as it continuously tests support, which usually sets the stage for downside extension. If ZEC fails to break above the 520–525 resistance region, then a breakdown below 478 support will bring about a further decline towards the 455 and 425 support levels.
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