ZAMA’s price just bounced back to $0.05697, up about 6.8%. More importantly, the OI decline looks more like a phased deleveraging; it’s still not possible to confirm a trend reversal for now.

If I were to make an $ZAMA short-sell checklist, here’s how I’m thinking 👇:

✅ Break below the Higher Low, and the bounce fails
✅ Price reaches the ATH, but OI continues to keep falling
✅ Spot trading volumes keep shrinking—only derivatives capital is still pushing the price
✅ Funding flips from negative to clearly positive, and the market starts to get crowded with long positions

Fellow futures veterans, do you think my logic is correct? Or could ZAMA really, as the leading player in the FHE sector, lead privacy protocols into a wave of an independent run?