The leading privacy coin ZEC has reached a critical moment! The price is firmly eyeing the key support level of 380 on the 4-hour chart, with intense battles between bulls and bears here. Meanwhile, ZEC has just been included in a cross-chain trading competition. Could this be a lifeline? How will the market move today? I'll explain it to you.
News front
The latest update shows that ZEC has been included in a cross-chain trading competition with a total prize pool of 2500 NEAR, which can enhance ZEC's exposure and trading volume in the multi-chain ecosystem. This is a small positive, which may stimulate some short-term buying interest, but to be honest, the prize pool is not large, and it's unrealistic to expect it to drive a significant surge on its own. It's more of a minor stimulus; the key is whether the technical aspects can keep up.
Technical aspect
From the 4-hour K-line perspective, ZEC has been declining to around 380, which is a clear support platform. If it can stabilize in the 380-385 area and show a rebound with volume, there is hope for an upward test of the 400~420 pressure zone. However, if it breaks below 380 with volume, the downside space will be opened up, and the next strong support is around 350. Currently, the overall structure still favors bears, and a significant bullish line + volume must appear to confirm the effectiveness of the rebound.
Hongcai's personal opinion
ZEC has strong support near 380, and there may be a technical rebound in the short term, but the strength of the rebound depends on trading volume. If there is no volume in the rebound, it is likely to test the bottom again. The overall trend is still in a correction cycle, and heavy bets are not recommended.
What should beginners do?
Holders: Pay attention to the support at 380. If it rebounds to the 395~400 area without volume, it is recommended to reduce positions. If it breaks below 380 with volume, stop loss in time.
For those who want to bottom fish: You can try a light position near 380, with a stop loss below 375.
For those who are on the sidelines: It is recommended to wait for two signals: one is to stand firmly above 400 with volume, and the other is for a pullback that does not break 380 and shows a reversal candlestick. Otherwise, it is better to miss out than to make a mistake.
ZEC is at a point of small favorable news + key technical support. There may be a rebound in the short term, but it must come with volume. Everyone should manage their positions well, not be greedy or fearful, and strictly follow the plan!
In the market, the most important thing is not to predict every wave, but to ensure that you are always in the boat. The tide of liquidity will ultimately lift all true value boats. Pay attention to Hongcai and participate in every attack from Hongcai! Hongcai will announce specific entry times and real-time news every day at Caishen's place! #加密市场观察 $ZEC
