Recently, I’ve been paying attention to ZEC’s market movements, and two pieces of news have stirred up the market. One is from a trader claiming to be the "largest ZEC short seller," who lost $4.51 million but kept adding to his position, eventually approaching a total of $20 million. His persistence is quite intense. Meanwhile, a mysterious whale with an unrealized profit of $6.53 million is aggressively long using 3x leverage, reaching a scale of $32.2 million. This is no ordinary counterparty; clearly, two major players are competing with real money, and there must be some underlying strategy.

From a technical perspective, key levels on the 4-hour chart are very important. The resistance at 640 is a rebound barrier, and above that, the 750 line is a "high-frequency suppression zone," where historically the price has often been hammered down. The 550 level below is a critical support; if broken, market sentiment could turn sharply negative. The 450 level acts as a strong fortress-like support.

Currently, the bullish signals are still present: the trend is upward, and the MACD has a golden cross above the zero line with the yellow line, indicating buying momentum remains. But the problem is also evident—RSI has entered the overbought zone, which suggests the short-term rally may be overextended, and the market could need a correction at any time.

For ordinary traders, the current strategy is quite clear. First, don’t chase the high. When RSI is overbought and the price has already surged significantly, jumping in now is like catching a falling knife—risky. The first lesson in crypto trading is: better to miss out than to make a mistake. Second, defend the support levels. If a decline really happens, 550 is the first line of defense; if that breaks, 450 becomes the last bastion. Lastly, wait for signals. Wait for RSI to return to normal levels, wait for MACD to give new confirmation—only then is an entry worth considering.