Technical analysis by Ma_Dadras about Symbol ZEC: Buy recommendation (12/13/2024)

Analysis:Support: $58.46 (recent low, indicating buyers stepping in).Resistance: $60.01 and $60.88 (near-term targets and resistance zones).Volume: Moderate at 20.856K, indicating steady market activity.Strategy for Long Position:Entry Point: Consider entering around the current price ($58.89) if there is confirmation of support at $58.46 holding.Stop Loss: Place a stop loss just below $58.46 to limit downside risk.Take Profit Targets:First Target: $60.01 (EMA 30 resistance level).Second Target: $60.88 (EMA 60 resistance level).Risk-Reward Ratio: Ensure a minimum risk-reward ratio of 1:2 for this trade.Confirmation: Look for:Increased buying volume at the current level.Bullish candlestick patterns or a crossover of EMA (10) over EMA (30).