Brothers, I am Hongcai! This coin ZEC has gone crazy recently, surging 720% last month! But this month it has pulled back after a high surge, and the four-hour chart is at a critical juncture: is it a correction to build strength, or the end of a bull market? I will clarify this for you soon!
News aspects
In the past 24 hours, nearly 15 million USD has been liquidated across the entire network, with a key short position liquidating 12.22 million! This indicates that during the previous surge, shorts were wiped out in a round. However, the price did not rise, indicating significant selling pressure at high levels, and both bulls and bears are engaged in fierce battles.
Technical aspects
The price is struggling near the critical level of 395.
Hold on: After oscillating in the range of 385-410, it is expected to challenge the previous high again.
Can't hold: the next stop may be heading straight for 322.
The indicators show 'golden cross on water' but 'green column turns red column', to put it simply: the trend isn't bad, but the short-term is tired and needs a break.
My opinion
Today's market is very simple: oscillation above 396, waiting for direction. If it dips to near 396 and can quickly bounce back, you can try a small long position, with a stop loss below 390. If it breaks down 396 with volume, the bulls should run quickly, just watch for the next support.
Aggressive: light position long at current price, set a good stop loss. Conservative: just watch! Wait until it stabilizes clearly before considering. Remember: position control is more important than being right, don't get carried away!
ZEC is now playing heartbeat, 396 is the critical point. Hold it, and the story can still be told; break it, and the deep correction begins. I am Hongcai, I don't advise you to gamble your life, just teach you smart trading!
Interest rate cuts are coming, Hongcai will help you let go of illusions and face the market directly. Hongcai will guide you to interpret signals with hardcore techniques; daily points are your and my ticket to stable profits.
