Last night, those who chased high at $ZEC have seen their accounts shrink by 20% today?
Seeing this strong four-hour bullish candle for ZEC, I immediately checked the on-chain data. This surge seems strong, but the vulnerabilities are too obvious! The price violently rebounded from 300 to 399, with a high amplitude of 9.01%, but the key issue is: when breaking through the upper Bollinger Band at 386, the trading volume was only 680,000, which is 60% less than the estimated volume of 176 million. This is a typical false breakout technique by the main force.
Technical analysis: The current price of 383 is close to the upper band of 386, but the lower band of 304 has deviated by more than 20%. Such a narrow channel's false breakout often leads to a reverse squeeze within 1-2 candles.
EMA7 and MA7 are still below the price, and MA30 is even further away from the current price. All moving averages have not formed a bullish arrangement, indicating that the foundation for rising is not solid.
DIF and DEA are still below the zero axis, although the MACD histogram has turned positive at 18.31. However, the momentum may break at any time.
Zcash, being the first blockchain with a zero-knowledge proof mechanism, is facing continuous delisting of privacy coins from mainstream exchanges, and the actual application scenarios are constantly shrinking.
A countdown of 687,000 dollars for unlocking, the unlocking volume after 22 hours is equivalent to 10% of the daily trading volume. This batch of chips cost less than 200 dollars, resulting in significant selling pressure.
Its introduction states that the buying power of the main force is strong, but when breaking through key levels, the volume decreased by 60%. I believe this is clearly a case of the left hand selling to the right hand to create a false sense of prosperity.
Let's talk about operational suggestions: Direction Trigger conditions Target level Stop loss level Logic Short if it breaks the middle Bollinger band at 345, a false breakout at 386 must inevitably pull back to the lower band. Watch for stable volume at 386 and MACD above the zero axis, which needs to meet the double confirmation of volume and price indicators.
Additionally, a warning for spot players: Absolutely do not chase at the current price of 383! Wait for a pullback near 345 before considering building positions in batches. If the price holds above 360 after the unlocking tomorrow, that will be a true strong signal.
This surge for ZEC is a microcosm of the desperate struggle of privacy coins. With technological lag and regulatory pressure, relying solely on news stimulation cannot go far. Better to miss out than to become a bag holder!
Lastly, by the way, last night Sister Xu led fans to ambush at position 333, securing 6000u profit! Brothers and sisters who haven't boarded yet can pay attention to $ETH , $BOB, $SOL. I will provide specific positions in the chat room later, don't just guess blindly, seize the opportunity.
