How to react to the uncorrected fall of the ZEC cryptocurrency on the weekly timeframe? While other cryptocurrencies organized at least some price rebound during June, ZEC submissively continues to fall. Does this mean the weakness of the cryptocurrency and should it be considered for investment? From March 2022, the ZEC price fell by 70%. The main buyers support from which it was possible to continue the growth trend is the $91 range. It was from this range that the ZEC growth wave began in January 2022. However, after sellers broke the $91 liquidity zone with a weekly candle from 9 May, things went badly for ZEC cryptocurrency. Source: https://www.tradingview.com/x/Ewv1OwKF/ Sellers ran the distance from $91 to $57 with small weak weekly candles and did not make an effort in the form of increased volumes. Thus, as of 13 June 2022, the ZEC price is near a new strong liquidity range, from which the market situation may change dramatically. The $57 range was the main buyers’ support in 2020. Consolidation over this range gave some confidence to buyers to achieve growth with the final target of $372. Therefore, at least from this range, we should expect a price rebound to $91 and the beginning of global consolidation in a wide range. Until the price confidently breaks the mark of $91 and is not fixed above it – planning higher growth targets is not yet in time. ZEC Technical Analysis On The Daily Timeframe Source: https://www.tr...
