The recent rally of ZEC has indeed been significant. From the start of this month until a couple of days ago when it peaked, it has nearly doubled in just half a month. However, the recent trend has started to become more interesting.

Yesterday's daily candle closed with a bearish line, and afterward, the price repeatedly oscillated at high levels, showing a pattern of decline - rebound - further decline. More importantly, each wave of pullback lows is getting lower, with new lows continuously being made. This pattern typically indicates the formation of a downtrend from a technical perspective.

It now appears that ZEC has entered a clear downward channel. In this situation, experienced traders might start considering short positions at high levels to capture this downward move. Of course, the specific operations should still be based on your risk tolerance and capital management plan. Whether chasing the high or entering short positions, setting proper stop-losses is essential to prevent a wave of losses from affecting subsequent trading rhythm.