The latest trend of $ZEC looks not so good. The price is around 435 dollars, and it has basically been moving along the lower Bollinger Band in recent days.

From a technical perspective, the bearish signals are quite obvious. The MACD crossed below the zero line yesterday, indicating a bearish medium-term outlook. The moving averages are also in a bearish arrangement, and the short-term trend is indeed weak. The most critical point is the appearance of the black three soldiers pattern, with consecutive bearish candles closing at lower prices.

However, there are also some rebound signals. The RSI has dropped below 30 and entered the oversold zone, which may present a rebound opportunity. Yesterday at 19:00, a hammer candlestick appeared, indicating signs of a bottom reversal. The KDJ is also in the oversold area, theoretically suggesting a rebound expectation.

Looking at the chip distribution, the current price range has relatively sparse chips. The resistance level above is approximately 451 dollars, leaving a 3.64% space from the current price.

My view is that there may be a slight rebound in the short term, but the overall trend remains weak. If one wants to go long, it is essential to see if it can break through the resistance level of 451. If it does not break through, this rebound will just be a trap for bulls.