$ZEC this trend is basically a standard bearish pattern. The bearish engulfing pattern has been confirmed on the K chart, and a death cross of the short-term moving averages has formed. The price is clearly below the VWAP, and the probability of a rebound is low.

The trading volume is a concern. Extremely low volume indicates that market trading willingness is very low, which is not favorable for a rebound, but the persistence of the decline may also be limited. This kind of volume-price divergence needs to be taken seriously.

From a technical perspective, the position at 433 is a key resistance. If the price rebounds to this level and encounters resistance, it can basically confirm the continuation of the bearish trend. The area around 415.88 is the support of the 120-period moving average; if it breaks, the next target will be the 400 round number.

The impact of the external environment is limited, and market sentiment is relatively neutral. There are no obvious macroeconomic negatives, but there is also a lack of bullish driving forces. In this case, the technical aspect dominates more strongly.

I personally tend to wait for a short opportunity near the rebound at 433. The stop loss is set above 445, with the target looking at the support near 415.