#美联储联邦公开市场委员会决议 ZEC is already showing a bearish setup around the 400 level, and the short-term momentum remains relatively weak.

From the perspective of the privacy sector itself, the popularity has clearly waned, and the capital absorption strength is diminishing. On-chain data reveals an interesting phenomenon—retail investors are repeatedly buying the dip at low levels, but large funds are quietly reducing their positions to realize profits. This indicates that the true controlling force is still fleeing, and the rebound foundation is not solid.

Technically, ZEC's upward movements are often just corrective rebounds, making it difficult to form a sustained trend. Therefore, the trading approach is quite clear: short on rallies. Specifically, consider a light short position if the rebound reaches the 400-410 range, with the first target at 360. If the support breaks further, look towards the 320-300 range.

Looking at a longer time frame, the narrative of privacy coins itself is fading, and combined with the possibility of continued market liquidity tightening, ZEC has considerable downside potential. The long-term support level is expected around $100.

For spot holders, the advice is straightforward: avoid aggressive leverage, take profits when appropriate, cut losses when necessary, and wait until the market truly reaches the bottom of the bear market before considering re-entry. There’s no need to rush into the fire prematurely.