#数字货币市场洞察 $ZEC is undergoing a subtle game. In the past 24 hours, the scale of long liquidations reached $11.74 million—1.7 times that of short liquidations. Technical rebound faces clear resistance below $340, and the market seems to be sending a certain signal.

Let’s look at some interesting data comparisons.

On the Hyperliquid platform, 67.2% of positions are long; meanwhile, on Bitmex, 66.2% of positions are short. Such extremely polarized positioning has often historically signaled intense volatility ahead—the direction, however, is still unclear.

The balance of liquidation data has tilted. The volume of long liquidations far exceeds shorts, indicating that in this move down from $385 to $300, the long side’s defense appears more fragile. Each rebound might be giving high-level buyers a chance to “reconsider” their choices.

Technical signals are also worth noting. The current price rebound to the $340-$342 range happens to coincide with the golden ratio retracement of the previous drop, and is also a dense area for positions. The RSI indicator is struggling to rise, and the MACD is close to forming a death cross—all these details suggest that the momentum for the rebound may be nearing its limit.

If you want to participate in this game, position selection is crucial.

You could consider testing a short position in the $333-$335 range with a small size to feel the market rhythm. If the price rebounds further to $338-$342, the risk-reward ratio in this range would be even better, and you could add to your short positions in batches.

Stop-losses must be clear: if there is a decisive breakout above $355, you need to acknowledge that the rebound may continue and exit decisively. Don’t fight the market out of stubbornness.

Take-profit targets can refer to a few key levels: $320.16 is the first observation point, $300.57 could confirm a trend continuation, and $285.78 would imply the possibility of accelerated downside.

This is not investment advice, just an observation based on data and technical patterns. The market is always full of uncertainty, and battles between whales often affect retail traders. Stay calm and only act when the odds are in your favor.