ZEC rebound is critical! Is 480 the lifeline for bulls and bears?
Overall trend shows multiple key moving averages still in a bearish arrangement, with price rebounds constrained by mid-term moving average pressure. Currently, it has repeatedly faced resistance in the 440-460 range, indicating that the mid-term downtrend has not yet reversed.
Key technical signals show that despite a short-term rebound, its nature is a technical repair within a downtrend, not a trend reversal. The 480-520 area above constitutes a strong resistance zone, transformed from previous support, accumulating a dense trapped position. With the current momentum, the possibility of effectively breaking through this area is low.
More concerning is the market's capital behavior: the recent rebound has been accompanied by a continuous shrinkage in trading volume, showing a clear divergence between price and volume. This reflects a lack of incremental capital driving the rise, merely a game of existing stock, making the rebound's foundation very fragile.
Personal judgment: Since ZEC retreated from the historical high near 800 dollars, the long-term upward structure has been damaged. The current weekly-level rebound is likely to exhaust near the 480-520 resistance zone. If there is no strong breakout with increased volume to stabilize above 520, the market will likely revert to a downtrend after the rebound ends.
In terms of operations, I believe that the risk of chasing highs at this time far outweighs the potential rewards. It is advisable to remain patient, continue observing, and wait for a clear exhaustion of the rebound momentum or a price breakout through key resistance areas before making decisions.
Core viewpoint: The trend remains unchanged, rebound volume is insufficient, key resistance areas are difficult to overcome, cautious observation is recommended.
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