$ZEC's trend is making people feel a bit uneasy.
Looking at the hourly and 4-hour charts, it feels like a big move is coming.
But it's not an upward surge; it seems like a significant pullback is about to happen.
Just my personal market feeling, casually sharing.
On the 1-hour chart, after the MACD death cross, the green bars are still expanding, the candlesticks are moving down close to the EMA5, and the SAR red dots above keep pressing down. The 1500 whole number level feels a bit precarious.
Switching to the 4-hour chart, this move from 1080 to 1598, nearly 500 points, barely took a breather.
Now at the high level, there are consecutive upper shadows on the candles, and the MACD fast and slow lines are about to converge into a death cross.
In short, there are too many profit-taking positions, and the volume can't quite support it.
My personal feeling is that this wave will most likely drop first, going through a pullback to wash out the market.
The big trend isn't broken; it's just that the rise was too rapid and needs a retracement to confirm.
Below, first watch the 4-hour EMA20 (around 1440), and if that doesn't hold, it might test 1400.
This market is like a fully drawn bow; the string needs to loosen a bit to stay healthy.
In terms of trading, don't chase the highs. Those holding spot can consider reducing positions to lock in profits, and contracts should have good defense.
It's not too late to buy back after the pullback is complete, especially since it has risen nearly 40% in 7 days, which is indeed a bit overheated.
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