#ZECUSDT Are there still some that are trapped?
Let’s talk about the recent views on ZEC. After the Fed's interest rate cut last night, the resistance level of 450 has not been broken, and it soon dropped to around 400, which could not be sustained by noon today.
There was a small rebound today, but it is not very strong. In my opinion, it is just a short-term correction, and the real downtrend has not yet reversed.
From the on-chain liquidity perspective, ZEC's contracts are also continuously decreasing in the short term. This rise did not meet expectations, and the excitement is gradually fading. Those who are trapped above 500 will find it very difficult to exit safely, and it is very likely that we will not see above 500 again.
The liquidity in the market is decreasing, thus gradually shrinking. This will lead to a downward trend in the market.
So personally, I am looking for a point to enter a short position, possibly for a long-term setup, looking at below 300.
The above is my personal view, detailed discussions in the chat room @10000ETt .
