Family, the market has made a big move again! It is said that some whales seem to have joined forces to manipulate the market, directly targeting ZEC, resulting in a multi-million dollar short-selling drama! Once this news came out, the whole circle went crazy, and everyone is guessing whether tonight's market will continue to plummet into an endless abyss or will it stage a comeback, turning into a golden opportunity for profits?
Let's talk about the recent news. There are two short positions in the market that are particularly eye-catching and noteworthy. One was opened at $400, and the other at $410. Moreover, these two short positions have different liquidation prices, one at $615 and the other at $810.
From this situation, those big capital players, often referred to as 'whales', believe that ZEC is unlikely to break above 600 dollars in the short term. However, they haven't dared to hold their short positions too tightly, leaving some room.
The most critical point is that both addresses for opening short positions have just emerged, and I strongly suspect that they may come from the same team, possibly collaborating in their operations! We need to keep observing what their purpose is, but for now, the situation with these two short positions is enough to make people in the market ponder for a while.
Let's take a technical look at ZEC's situation. Looking at its 4-hour chart, the price is currently hovering between 400 and 410 dollars, and the trading volume has decreased, not as active as before. Also, the MACD indicator has formed a death cross below the zero axis, which is a clear signal of weakening market momentum; it feels like the trend is a bit ominous.
Looking upwards, the pressure is significant; the area from 485 to 550 dollars is a strong pressure zone. If the trading volume doesn't increase, it's basically impossible to break through. Looking down, the support levels are at 390 dollars and 320 dollars, and it depends on whether the price can stabilize at these two positions. I feel that ZEC's current trend is quite worrisome; we need to keep observing how it goes.
Ah Bo's view. Those big capital players shorting the market may not necessarily believe that the market is going to fall. Sometimes they do this to hedge risks, or they might want to take the opportunity to accumulate more goods at a low price.
Looking at the current ZEC market, it really doesn't perform well; it looks quite fragile. However, the price of 400 dollars is close to this year's lowest point, and if it drops further, there won't be much space left.
How should a novice act?
If you have a position, it's advisable to reduce your holdings around 400, and consider buying back once it stabilizes at 420.
If you are out of positions, don't rush to catch the falling knife! Wait for the price to stabilize before gradually building your position.
Currently, ZEC is stuck at a crucial point where both long and short sides are fiercely clashing. Those big capital players shorting the market pose a potential risk for us, but it might also be a great opportunity; the key is how we respond. Remember, when others in the market are scared and flustered, we need to remain calm. When it's time to act, we should act, but we can't do it blindly; we need our own strategy! For the upcoming layout strategy, I'll lead my loyal followers to aim for opportunities in altcoin profits, targeting to double our investment and join the chat room to strategize together.
