$ZEC ZEC7.8 Market Analysis

After a 4-hour surge, a long upper shadow was left, with concentrated selling pressure above. Following a sharp rise, profit-taking concentratedly materialized, and the larger cycle itself has a need for correction. On the 1-hour chart, consecutive bounces failed to touch the previous high, with highs gradually moving lower. Short-term bullish momentum continues to weaken. The rebound was entirely with low volume, while declines saw increasing volume. Bearish momentum is steadily strengthening. The high-level consolidation is only a temporary buffer, making it difficult to directly strengthen again.

Short-term core observation: the 480 level as the strength-weakness line. If the hourly chart continues to close bearish and firmly holds below 480, the correction space will directly open. The next key support zone is the launch platform of this rally. Only a volume-supported re-break above the upper resistance will break the correction expectation. Before that, a short-biased approach fits the market rhythm better. Overall, this is a technical pullback after a surge, not a direct reversal into a bear market. However, the short-term market focus will continue to shift downward, prioritizing a downward adjustment.

Wednesday operation strategy: short near 495-485, target 465.