Recently, the trend of ZEC is indeed worth discussing. Last night, the market experienced a waterfall decline, and many small holders of ZEC probably felt uncomfortable. From a technical perspective, ZEC has already broken through the key support level of 400, and is even heading further down.

The underlying logic is not complicated. The day before, a large investor started to turn bullish on ZEC, attracting a lot of follow-up funds. But then, a whale concentrated on selling off—this classic move. First, they loudly promote buying to attract retail investors, accumulating enough support to then dump and harvest. Watching these operations, the tricks have long been exposed.

Many retail investors who followed the long positions are now left heartbroken. They thought they could profit by following the big players, but ended up becoming the bagholders. This is why choosing a direction in altcoins is so difficult—you never know if the other side is genuinely optimistic or just trying to shake you out.

From the trend, it has now broken through an important support, and it’s likely to continue declining to confirm the bottom. In this situation, if you are still holding long positions, you may need to prepare psychologically in the short term. The performance of coins like SOL and SUI is also under observation, and the entire market currently has a cautious atmosphere.

Federal Reserve movements, whale holdings changes—these are the core factors influencing the trend, and they are worth paying close attention to.