Recently, traders paying attention to ZEC have noticeably increased, and this wave of movement has exhibited some textbook-level characteristics.

The market rhythm is like this — first a rapid surge to a high level, followed by a straight-line crash. Both bulls and bears are instantly caught off guard, and market sentiment is completely frozen. But what’s truly worth noting isn’t the decline itself, but the abnormal calm that appears after the drop.

This doesn’t belong to the category of regular pullbacks. More accurately, it’s a thorough liquidation and chip exchange. Those funds that used high leverage, blindly chased the rally, or were driven by emotion, have all been flushed out.

You only need to look at two details to understand the entire logic:

First, the speed of the decline is extremely fierce, essentially a process of forced liquidation of a large amount of leverage. Second, after the rapid fall, the rebound speed is equally swift and stable, indicating that the support at the bottom is quite strong — there are no signs of large-scale panic selling.

What does this chip structure reveal? The chips have become cleaner; high leverage in the market has been thoroughly cleared out, leaving mostly funds that can withstand volatility and maintain stable positions.

ZEC has never been a coin that climbs slowly. Its nature is to absorb volatility — rapid rises and falls, with bulls and bears repeatedly harvesting each other. The main players consolidate chips amid this intense fluctuation. In other words, every seemingly fierce decline often signals the beginning of the next wave of volatility.

What kind of appearance does ZEC present now? The heat has cooled, market sentiment has become more subdued, yet the trading surface has become more stable. This contrast is precisely the most warning sign — it doesn’t mean an imminent strong breakout, but this structure is most prone to spawning sudden acceleration.

To understand ZEC’s next move, instead of focusing on changes in market sentiment, it’s better to pay attention to the true state of the chips.