ZEC Players Must Watch! Behind the 10x Leverage Short Position with a Floating Profit of 3.36 Million, Is There a "Retracement Trap" Hidden in the Technical Analysis?
Dear ZEC players, the market has been quite volatile lately, let's first look at the technical analysis—from the 1-hour candlestick chart, ZEC's current price of $593 is right at the key support level of $591.73, while the previously broken downtrend line shows that short selling pressure is temporarily stalled.
The current floating profit of $3.36 million from the 10x leverage short position precisely confirms the extreme market sentiment—large funds are choosing to increase their short positions around $593, but the existence of the support level indicates a short-term need for a rebound. Just like last week's market, the price briefly touched $747 before quickly falling back, which is a typical manifestation of bulls fighting back near the support level.
What to do next? The technical analysis provides clear signals: if the price effectively breaks below the support level of $591.73, the next target will be $572.13; but if it holds above $593 and breaks $602, one should be cautious of a rapid rise triggered by short covering.
Personal opinion—ZEC is currently stuck above the support level of $591, like standing on a springboard—if it breaks down, it will head straight for $575; if it holds, it could bounce to $610.
Players, remember: the trend line has broken, but the probability of a short-term retracement is high! Don’t chase the highs, maintain a stop-loss line at $595, take profits, and wait for the signal to cut losses! Sailors will analyze in real time in the village, providing the current best entry points
