ZEC's recent actions have left people bewildered—$18.2 million net outflow in 24 hours, directly entering the top five of the outflow rankings.

What concept? The neighboring BTC is crazily siphoning off, ETH and XRP are also losing blood, but the outflow speed of ZEC is clearly unusual. It seems that big funds are collectively fleeing the altcoin camp, squeezing towards Bitcoin. However, speaking of which, XRP was also smashed like this last month, and as a result, it surged back by 40% in just a few days. Is the end of bad news an opportunity? This matter needs to be discussed from both sides.

Looking at the market, ZEC is stuck around 326, in a dilemma. On the upside, 458 and 485 are two hard resistance levels, which have pushed back previous attempts to break through; on the downside, 300 and 225 are key support levels, and breaking them might lead to a deeper pit. The technical indicator MACD has already crossed bearish, and it seems the short-term downtrend is not over yet.

To be honest, this position is quite awkward.

If it really drops to 300 tonight, that might be the last escape window - a rebound gives you the opportunity to reduce your position. But if you're bold enough, trying a small long position near 300 isn't out of the question, aiming for a quick in-and-out to profit around 458. If you're really looking to bottom fish, I personally prefer to wait and enter in batches near 225, as the chips might be cheaper then, and the risk-reward ratio would be more favorable.

In short, given the current market situation, short at resistance levels and buy at support levels, and make sure to keep your stop-loss tight. Don't go all in, don't get carried away.