The recent market is not stable, many coins are falling along with the market, but one coin is like a 'nail household' - ZEC. The price is hovering around 398 dollars, neither up nor down, it's so horizontal that it makes people uneasy.
Look at the data: the highest in 24 hours surged past 417, the lowest only 386, repeatedly fluctuating in the range of thirty-some dollars in between. The trading volume is quite active, with 230 million dollars traded in 24 hours. But the price? Steady as a rock. You say it's strong, but it hasn't really risen; you say it's weak, but it just can't fall.
This kind of movement is clearly someone controlling the market. The tactics of the big player are quite torturous, not following the market, nor playing by the rules, just stubbornly staying here. You wait for it to drop, but it just won't; you think it’s about to break out, but it pulls back. It's all about mentality, and those watching the market can easily get frustrated.
However, despite the consolidation, there is indeed some activity behind ZEC. I've heard that an institution quietly acquired over $80 million worth of ZEC, accounting for almost 5% of the circulating supply. There are also movements in the ecosystem; DeFi functionalities are beginning to expand, and there is potential for staking to earn returns. Even the founder has gone to discuss the future of privacy coins with regulators—these matters may be laying the groundwork for what’s to come.
From a technical perspective, the MACD recently formed a golden cross, indicating a slight rebound in the short term, but the medium to long-term indicators are still weak. Both bulls and bears are vying for control here, and neither side is letting go easily.
So if you're trading this coin, you really need to be cautious. The longer it consolidates, the bigger the potential movement later, but the direction is hard to predict. Don’t let the market makers lead you by the nose, and don’t chase after prices too easily. Observe more and act less, wait for it to find its direction on its own before making a move.$ZEC
