Recently, if you have ZEC in hand, your mood is probably like a roller coaster—when it rises, you want to set off firecrackers, and when it falls, you just want to close the software and play dead. This coin is strange.
You can tell by looking at the price. A few days ago, it even touched 440, and in the blink of an eye, it could drop to 391, performing a 'plummeting waterfall' in just one day, with a decline of nearly 10%. The trading volume is quite large, nearly 200 million a day, but look at that K-line, the upper and lower shadows are as long as a hedgehog, clearly someone is drawing the chart. What MACD golden cross, RSI rebound, it looks a bit warm in the short term, but do you really believe it can go up all the way? Look at those moving averages, the 7-day line is pressing down at 414, and the 25-day line is still at 437, the price can't even stabilize above the moving averages, it's obviously a rebound to let you escape—or to lure you into the market.
Is there no story behind ZEC? Not really. In the realm of privacy coins, it is considered an old player. Recently, some institutions have quietly acquired hundreds of thousands, and the founder can even chat with the SEC, which sounds quite impressive. The network fee model is also being improved, said to make it more stable and faster. But these 'favorable news' seem to always lag behind when it comes to price. Often, there’s a surge before the news comes out, and by the time you rush in, it starts to drop.
Simply put, ZEC is currently a swing coin, and it is highly manipulated. The operators hold a significant amount of chips, moving the price up or down as they please, specifically targeting contract players to trigger liquidations. You see ZEC continuously flowing out of exchanges, and it's not that everyone wants to hold coins out of faith; most likely, large holders are moving to prepare for their next action. If you chase the news to buy high and sell low, you are likely to get slapped in the face.
So playing with ZEC can only be approached with a 'chicken-stealing' mentality. When the trend comes, ride it for a bit, take some profit; when the indicators are high and the sentiment is hot, hurry and run. Don’t talk about value investing, and don’t be fooled by phrases like 'leading privacy coin' or 'institutional optimism.' Discussing faith in such coins is like discussing feelings with a casino—if you take it seriously, you’re going to lose.$ZEC
