ZEC (Zcash) has shown some interesting movements recently. As of around 2:30 AM on December 4, the price is hovering near 369.

From a technical perspective, there does seem to be a short-term rebound. The price is approaching the key resistance level at 360, short-term moving averages are starting to turn up, and a bullish engulfing pattern has appeared on the candlestick chart—this kind of signal usually indicates a potential short-term rebound. As the price climbed from the low to 357, bullish momentum was clearly building, but the issue is that it still hasn’t broken above previous highs.

However, from a long-term perspective, the situation isn’t as optimistic. Long-term moving averages are still in a bearish alignment, and the price remains below these averages. This technical structure presents a clear contradiction. Although the MACD is starting to show bullish signals, the overall trend hasn’t completely reversed, and there’s still significant selling pressure at higher levels. Main funds seem to continue offloading positions.

Given this mixed long-short situation, I personally lean towards shorting at higher levels, and would advise extra caution for chasing long positions in the short term.

If you want to refer to specific levels:
- For long positions, consider entering at 350, adding at 340, set a stop loss at 335, and target 380
- For short positions, consider opening at 370, adding at 380, stop loss at 385, targeting a retracement to 350

These are just my personal observations based on the current market and data, and do not constitute any investment advice. The market can change in an instant, so you should always operate according to your own risk tolerance.