Recently, ZEC's performance has indeed been interesting. The price level of 470 seems like a simple resistance zone, but it has actually evolved into a chasm that long positions find difficult to cross. Time and again, attempts to push higher have been met with being dumped nearby each time; this is not a coincidence, but rather a clear indication that selling pressure exists above.

Let's first take a look at the market background. The volatility of Bitcoin liquidity combined with the better-than-expected U.S. non-farm payroll data has stirred up the entire market a bit. It's not surprising that ETH fluctuates in such an environment. As for ZEC, it seems to have decent resistance to declines, but when it comes to resistance to increases, that's another story.

The truly noteworthy detail is here. 470 is not just a resistance level; it's more like a "firewall". Every time the long positions get close, they get dumped, which itself demonstrates the strong selling pressure above. But what's more deadly? The trading volume. The trading volume of the recent rebounds has been increasingly feeble, like running and losing strength; eventually, you just can't run anymore.

So my judgment is as follows: as long as ZEC does not truly stabilize above 470, and with no effective increase in trading volume, any rebound is not worth chasing. The long positions simply cannot organize a lasting upward force. This rebound is likely just a trap. My operational plan is also very clear - the short positions are already prepared.