Seeing that there are still people below me leaving messages saying #zec will rise to 700 or even 1000, today I will objectively analyze ZEC's current situation from a purely technical perspective.

1. The current moving average system shows a bearish arrangement (MA7 is below MA20, MA20 is below the medium-term moving average MA50), forming a bearish arrangement, confirming that the medium-term downward trend still dominates. The current price rebound is between MA20 and MA50, which is typical of a pullback in a downward trend. In the past two days, it has been suppressed by the medium to long-term MA50 moving average, repeatedly oscillating in the 450-470 range, and whether it can break through further remains to be seen.

2. The golden cross formed below the zero axis in MACD is a typical rebound signal within a downward trend. The current weekly rebound is merely due to the short-term exhaustion of downward momentum and does not indicate a rise in bullish strength; the medium to long-term bearish pattern has not changed.

3. The current price has risen above the middle track of the Bollinger Bands at 425 but faces strong resistance at the upper track. According to the current daily downward speed, the upper track of the Bollinger Bands will reach around 500 next week, forming a strong resistance level. The 500-550 range is a key support area that was previously broken, which has now turned into a dense area of trapped positions. It will be very difficult to break through this dense area of trapped positions in the short term; the weekly rebound is very likely to reach this area and form a peak before turning down.

#zec has plummeted from the historical high of 775, completely destroying the long-term upward trend. The current weekly rebound is merely a technical repair following the bear market. Based on previous assessments of Bitcoin's future, $ZEC , in the absence of a strong breakout with volume and stabilization in the 500-550 strong resistance area, the market is likely to enter a new round of main downward waves after this weekly-level rebound ends.