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Everyone, I just noticed a signal—ZEC's recent rally is indeed fierce. The price jumped directly to $525.83, with a 22% increase, which is not just talk. More noteworthy are the on-chain data: the largest short position is stuck at $163M, while a big whale holds a long position of over 3x at $32.2M. Behind such a game often lies the market's true sentiment.
Honestly, Zcash's privacy features have been gaining more recognition lately. In terms of trading activity, it has started to surpass some top public chains, indicating that the market demand for privacy coins is really heating up. Combining this with on-chain data, I think there's some interesting potential now.
From a technical perspective, the RSI is only at 46.3, suggesting the rally isn't crazy enough yet, and there's room to grow. The support level is at $510.06, resistance at $541.60, and the key breakout point is at $536.35—if it can hold above this level, the market is likely to accelerate.
Here's my plan: for now, I will observe with my current positions. Once ZEC stabilizes above $536.35, I will increase my position to 30% of my total holdings. At the same time, I will set a stop-loss at $510.06 as a safety net. The initial target is $541.60; if it breaks through, I will consider whether to hold further.
Key price levels summary:
• Support: $510.06
• Resistance: $541.60
• Breakout point: $536.35
What do you all think about this situation? Welcome to discuss.