ZEC price holds above $55 after the impulse – is continuation possible, or should we expect a correction? After successfully breaking through and testing the demand zone near $50.23, the ZEC price made an impulsive move up to $55.34. At the same time, the price remains above all EMAs, and the RSI is around 65.46, showing no signs of overbought conditions.
Overall ZEC Price Structure
First of all, after updating the local low at $50.23, ZEC formed a sequence of higher lows and higher highs, breaking short-term resistance levels without any signs of reversal candle patterns. A key confirmation of the impulse was the breakout of the previous high around $54.6, while the current candle structure remains bullish, with the body forming above the 0.236 Fibonacci zone ($54.07). Note that even the corrective bars remain above the EMA-20 ($53.69), which increases the significance of the current consolidation.
ZEC EMA
- EMA-20 ($53.69) maintains a steep upward slope and runs near the 0.382 Fibo zone ($53.34), making it the closest dynamic support level we should watch to confirm the strength of the uptrend.
- EMA-50 ($53.03), looking at it, reinforces the medium-term support zone and lies within the 0.5 Fibo range, forming a potential cluster in the $52.7–$53.0 area.
- EMA-100 ($52.08) and EMA-200 ($49.85) remain below the $52 level and align with the lower boundary of the demand zone, which also speaks in favor of a still-active uptrend and may carry significant weight in case of a deep correction.
In other words, all EMAs are positioned below the price and have an upward angle, suggesting that the uptrend is still intact.
ZEC RSI
RSI is also fairly supportive of the uptrend, having reached 65.46 at the impulse peak and currently correcting to 58.5. This is a positive signal, indicating that we haven’t yet entered an overbought phase, which adds to the sustainability of the upward momentum.
At this point, I’d keep a close eye on the 50 – if we break it, that could become a cause for concern. Especially considering that it would be close to losing the EMA-20, which together may point to a transition into a corrective phase.
ZEC Fibonacci Levels
Also, take a look at the Fibonacci levels here – combined with the above, they may provide us with important insights.
- 0.236 ($54.07) this is fairly predictable, the first profit-taking zone after the impulse. Holding above it could signal readiness for further upside.
- 0.382 ($53.34) the first key zone to watch, especially in the context of short-term stability. A breakdown here could indicate a local correction and, more importantly, increase pressure on the EMA-20.
- 0.5 ($52.74) if that happens, this level will become the focus, as it could serve as the base for forming a new higher low during a deeper pullback.
- 0.618 ($52.15) now this level is close to critical, as a break below it may mean a breakdown of the current impulse.
- 0.786 ($51.31) the last line of defense, after which we may see a retest of the entire demand zone, in addition to the EMA-100/200.
Market Sentiment and Key Levels
Overall sentiment remains bullish, with no signs of strong reversal or even overbought conditions. The price has broken through key EMAs and is holding above the 0.236 level, RSI confirms the presence of momentum, and the demand zone in the $50.2–$51.5 range remains valid and may serve as a defensive base if needed.
📈 Bullish scenario. Holding above 0.382 ($53.34) and EMA-20 ($53.69) with RSI > 55 may lead to a retest of $55.2, and if broken, potentially opens the way to $56.3–$57.0. The bullish case remains in place as long as the price does not settle below the 0.5 Fibo level ($52.74).
📉 Bearish scenario. A break of 0.5 ($52.74) and a close below EMA-50 ($53.03) will increase pressure, potentially opening the path toward 0.618 ($52.15), and then to $51.3–$50.8. RSI below 50 may provide additional confirmation of a transition to correction.
✅ Potential entry point – the $53.3–$53.5 area (0.382–EMA-20 $53.69), if a bounce is confirmed and RSI is above 55.
🛑 Potential stop – below $52.0 (under EMA-50 $53.03 and the 0.618 level).
Conclusion
ZEC has shown a decent move-up and still maintains solid momentum. As long as EMA and RSI maintain a bullish structure, the base case remains upward.
Keep a particularly close eye on ZEC in the next few hours while the impulse remains active – holding the $53.3–$53.5 zone gives a chance for continuation, while a break below $52.7 and RSI under 50 would confirm a cooling phase.
