Just a glance at the market and you can tell that ZEN's rebound in the past few hours is a bit strong, with the price rising from 5.59 USDT to nearly 5.93 USDT, increasing by 5.7% in just a few hours, and the trading volume has also picked up. The MACD has just formed a golden cross, with the red bars turning positive, and technically it does look like it is going to move up. People in the community are also starting to call for more, and the sentiment has clearly heated up.
If you have been paying attention to this coin, you should have some idea - ZEN has never risen on its own, it purely follows the rhythm of ZEC. When ZEC moves, it just rides the hype and traffic, essentially just a follower. The worst thing for this kind of coin is when you think it is going to have an independent market, only to find out that it is just being dragged along for a while.
The current rebound seems lively, but the RSI has already risen to a high level, and it is clearly somewhat overbought in the short term. More importantly, no one can say how long this wave of ZEC can last. Once ZEC starts to turn down, ZEN will only drop even more drastically. This is how following the trend works; during a rise, not many can keep up, but during a fall, everyone is faster than the last.
The operation is very clear: take advantage of the rebound and sell whenever possible. Don't be fooled by this bullish candle; its current rise isn't due to its own strength, but merely borrowing someone else's light. Once the light is gone, it will return where it needs to.
This position is suitable for selling, not for chasing.
