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#美SEC促进加密创新监管体系 November 22 ZEC Trend Alert: Technical Indicators on High Alert
The current price of ZEC is $520, with significant downward pressure. The technical chart shows a typical bearish pattern.
Observing on the four-hour level, the price has broken below the lower support of the Bollinger Bands, and the channel continues to expand downward, indicating that selling pressure is still ongoing. In terms of the MACD indicator, the volume of the green momentum bars has clearly enlarged, and there are no signs of a reversal in the short-term bearish dominance. Market sentiment is leaning towards pessimism.
Although the technical aspect shows signs of being oversold, it is important to note that in a strong downward trend, the oversold state can often last for a long period. Oscillators such as KDJ may become dull repeatedly in the low range. At this time, blindly intervening to catch the bottom carries a high risk.
Current key price level: The 520 support level has been tested. If weakness continues, the next target level is around 500 USD. $BTC The overall trend also needs to be monitored.
Suggestion: Wait for a clear signal of a bottom before considering entry opportunities.