Brothers, I am Hongcai, this demon coin has risen 653% in 90 days, but has recently fallen by 40% in the past month. Is this wave of upward movement going to start a second spring, or is it just a last flicker before dying? Don't worry, I'll help you peel it back layer by layer!
News
In the last 24 hours, liquidations totaled 11.01 million, with short positions liquidating 8.99 million and long positions only liquidating 2.02 million.
But in the 4-hour liquidation data, the short positions liquidated 4.59 million, while the long positions only liquidated 390,000.
What does this indicate? During the upward movement, the main force first completely crushes the short positions, but at the same time, it also cleans up the retail investors chasing the long positions. This kind of play is very ruthless, a typical 'double kill' tactic!
Technical analysis
410 dollars! This is the 'ceiling' that has been unable to break through in the recent two attempts. Only by breaking through here can the upward space truly open up.
322 dollars! This is the recent 'floor'; as long as it doesn't break, the upward trend remains.
The price is around 382, just stuck in the middle. MACD has a bullish crossover, buying volume is greater than selling volume, but the ratio is negative, indicating significant selling pressure above.
ZEC now feels like it's climbing a steep slope, and 410 is the peak. The first time it climbed to 410, it couldn't go up, fell to 322 but didn't die, and now it's climbing up for the second charge. Whether it can break through today will determine if it continues to climb or rolls down again.
My viewpoint
The technical analysis shows a bullish crossover; the short-term trend is leaning bullish, and the liquidation data indicates that the bears have been heavily hit. The key support at 322 has withstood the test.
But! If it gets blocked at 410 again, it might significantly pull back to the 350-322 range for consolidation. Privacy coins are highly volatile, so be careful!
Retail Survival Guide
Set a stop loss; if it doesn't break, hold on. If it breaks 410 and stabilizes, you can look for a higher position.
Do not chase high above 380!
Don't be led by the nose by wild price fluctuations. For coins like ZEC, a 20% fluctuation in a day is normal; if you have a weak heart, don't play.
Today, ZEC is likely to fluctuate widely between 350-410. In the evening, it may test the 410 pressure again; the key is whether it can break through with volume. Remember: don't gamble on the breakout before it happens, and don't be afraid to pull back after it breaks.
In the crypto world, 'monster coins' like ZEC can often create miracles, but they can also instantly bury retail investors. Stay alert, stay rational, and wait for the market to find its direction before acting.
The interest rate cut on Thursday is approaching, and making money in the crypto world relies on understanding and patience, not shortcuts or luck. Prepare your bullets for the interest rate cut! Follow Hongcai and participate in every attack! Hongcai will announce the specific entry time and real-time news every day at the wealth god's home! #美联储重启降息步伐 $ZEC
