$ZEC Dumped to 1208, $149 million in longs liquidated—is a rebound coming?

ZEC plunged from 1383 to 1192 in this move, with RSI falling to 9.08, indicating extreme oversold conditions. The liquidation map shows that $149 million in longs have been liquidated, while shorts account for only $55 million. This is a leverage flush, not a fundamental breakdown.

The Grayscale ETF is still attracting inflows, and Winklevoss's ETF application is also moving forward. The logic behind the privacy sector remains unchanged.

Looking at the candlestick chart: the current price is 1208, the lower Bollinger Band is at 1193, the MACD has formed a death cross but the green bars are shrinking, and RSI is extremely oversold. Resistance above lies at 1283–1337, with support below at 1192–1170.

Gongming's view:

Whenever an extreme reading like RSI 9 has appeared historically, a short-term rebound has not been far away. As long as 1192 holds, there is an opportunity. Don't sell at a loss in panic.

Trading strategy:

Go long after a pullback to 1190–1200 stabilizes.

Go short if the rebound fails to break through 1280–1300.
The longs have already been flushed out, and shorts should also consider taking profits. Follow Gongming to understand the rhythm of buying and selling in panic-driven markets. #GateMoney正式上线 #美联储9月纪要偏鹰 $MU $NVDA