The Trust Layer for Market Analysts

The analysis focuses on ZECUSD, highlighting that its pattern is fragile due to a corrective foundation formed in July 2024. Resistance is noted around $800. The analyst suggests that given the lack of stability in altcoins, a blow-off top is expected. The immediate support area is around $160. The analysis uses Elliott Wave theory to map potential movements, showing five waves up. The analyst points out the current wave four support level is unreliable because previous wave four corrections in this cycle often broke support. A break below $590 is the first warning sign, potentially signaling the start of a larger wave four correction. Ideal targets for a blow off top range from $847 to $996. The model suggest that we are near a local high but after that any higher high will trigger a new bearish trend.