ZECUSDT - HOLDING STRONG AMID MARKET WIDE LIQUIDATIONSSymbol - ZECUSDT
CMP - 267.18
ZECUSDT has demonstrated notable resilience amid the broader cryptocurrency market downturn, which triggered over $10 billion in long position liquidations. Even in such an environment, certain assets have managed to withstand the selling pressure.
The cryptocurrency market remains gripped by panic and widespread liquidations, with Bitcoin currently testing the 100K level under intense selling pressure. However, amidst this turmoil, a few altcoins have shown relative strength - ZECUSDT being one of them as it continues to climb and test key resistance zones.
ZEC experienced a sharp decline earlier but found strong demand near the high volume node around 145 - 155. The subsequent aggressive rebound indicates the presence of solid bullish interest at these levels.
Resistance levels: 280.30, 305.65
Support levels: 242.64, 208.76
Focus remains on the 280.20 trigger zone. If the current retest does not result in a deep pullback and price consolidates near resistance, the likelihood of a breakout increases substantially. A decisive close above 280.30 - 280.50 could open the path for a rally toward 305 - 345. That said, it remains a high-risk setup, and traders are advised to exercise caution and maintain tight stoploss.
