ZEC has been making waves recently 🚀 ZEC rose over 400% in October, reaching a 7-year high of 412 dollars, and now the key points to watch are:

Core drivers: Increased demand for privacy coins + innovations in zero-knowledge proof technology + retail investor FOMO. However, there is a bit of danger behind this rise—data shows that it is mainly retail investors pushing it, with institutions not being very active in entering.

From a technical perspective, the Fibonacci target levels are $594/$847/$1256, but the support levels are crucial: if $342 and $312 cannot hold, it may directly drop to $185.

The most heartbreaking thing is the leverage risk. On-chain data shows:
• Long liquidation: 16.05 million USD
• Short liquidation: 3.65 million USD

The significant disparity between longs and shorts means that once the price retraces, the bulls will face concentrated liquidations, resulting in a cascade effect. Recently, whales have been using 5x leverage to trade ZEC, making over 2 million on paper, but such high-risk operations are often signals of a market peak.

Operation Suggestions:
① Don't touch leverage, especially high multiples.
② If holding a position, set a stop loss (312 or 200 dollars)
③ Monitor whale wallet movements, and be vigilant when large transfers occur.

The ZEC technology is quite good, and the Zashi wallet/multi-chain interoperability is progressing, but in the short term, this wave of rise has been overdrawn, and the probability of a correction is very high. Caution is advised.