$ZEC Rebound Truth: The Unprecedented Rise Hides Danger, $500 Becomes a Trap!

I see some people discussing whether ZEC can rise to 700 or even 1000. Today, I'll purely talk about its current real situation from a technical perspective.

Currently, all moving averages are in a bearish arrangement, meaning the short-term MA7 is below the medium-term MA50, confirming that the medium-term downtrend has not changed. In the past two days, the price rebounded to between 450 and 470, just being pressed by the medium and long-term moving averages, which belongs to a rebound in a downtrend. Whether it can continue to break upwards still needs observation.

The MACD formed a golden cross below the zero line, which is a rebound signal in a downtrend, indicating that the short-term downward momentum has temporarily weakened, but it doesn't mean that the bulls have truly turned strong; the medium and long-term trend remains bearish.

The price is currently above the middle track of the Bollinger Bands at 425, but there is significant pressure upwards. The upper track of the Bollinger Bands is moving down every day, and it is estimated that it will move to around 500 next week, where it will be a strong resistance zone. The position of 500-550 was previously support, but after breaking down, it has now become a densely trapped area. Many people bought in here previously and got trapped. Once the price rebounds to here, the selling pressure will be very high, so the difficulty of breaking through in the short term is very high.

Recently, the trading volume has been shrinking during the rebound, which belongs to a rise without volume, indicating that there is no new capital entering to push it; it is just existing capital competing. This kind of rebound without volume support is not solid, making it hard to form a true reversal.

ZEC has fallen from its historical high of 775, and the long-term upward trend has been broken. The current weekly rebound is merely a technical repair during a bear market. Combined with previous judgments on the market, if ZEC cannot strongly break through and stabilize in the resistance zone of 500-550 with volume, then after this weekly level rebound ends, it is likely to enter a new round of decline.

In terms of operation, there were no trading opportunities above 470 yesterday, so I will continue to hold and observe, patiently waiting for this round of rebound to end. If you want to catch this opportunity, find Sister Xin in the chat room, and she will help you layout together! #美联储降息 #加密市场反弹 #美联储FOMC会议