The Macro Picture šŗļø
ZEC went through a violent structural reset ā the late-May $685 highs collapsed in a single wick to $250 before buyers stepped in hard. That kind of capitulation flush is exactly what carves durable floors, and what followed proves it: price built a base above $400 and has since ripped higher in an aggressive momentum move back to $565, dragging RSI up toward 65. The character of the tape has flipped from distribution to accumulation-driven markup. Price is now pressing the upper end of the recovery, and the path of least resistance points toward the ground it lost on the way down.
The Setup āļø
The Support Flip: The $480 shelf now acts as support beneath price. As marked on the chart, the recovery is holding well above the $400 macro floor, and this structure is the pivot the bullish case rests on.
The Reaction: The push into $560 is the first real test of overhead supply left behind by the June breakdown. A shallow pullback that holds shows buyers defending the move rather than abandoning it.
The Ceiling: The $600 decision line is the trigger. A clean reclaim confirms the higher-high structure and opens the path directly toward the $640 macro resistance above.
The Roadmap: Primary target sits at $640 ā the green roadmap points there as momentum carries price out of the base. Invalidation: a clean daily close below $400 would invalidate this bullish thesis and signal the recovery has failed.
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