ZEC has recently shown clear bullish signals, and the risk of short-term bearish positioning is relatively high.

From an hourly chart perspective, the main capital flow clearly favors a long position. Of course, there will inevitably be some oscillation and shakeouts during this process, but overall, the structure is expected to maintain a pattern of repeated oscillations with a gradual upward trend.

Let's examine the key technical levels. The support levels below are very important. First, pay attention to the 406-410 range, which can be considered the recent dividing line between bulls and bears. If this line is broken, the next focus is whether the 386-393 zone can halt the decline; this is the second line of defense. Deeper support lies in the 335-343 range, which is a relatively extreme retracement point; even if touched, it doesn't necessarily indicate a trend reversal.

Looking upward, resistance levels are also quite clear. The first is in the 449-460 range, where initial resistance will be encountered. This area is particularly prone to pullbacks, so avoid chasing the rally prematurely. Further up, the 460-480 range represents a stronger resistance zone. To truly open up upward space, a significant volume breakout and stabilization are required.

The operational approach is as follows: if the price can hold above 406-410, especially if the hourly chart confirms this support is truly effective, it can serve as a reference for trend-following buying. However, when the price approaches the 449-460 resistance zone, caution is advised. It’s not suitable to chase the rally further at this point; it’s better to wait for a confirmed breakout or consider reducing some positions.

If after testing the 460-480 zone the price fails to stabilize, a pullback may occur. At that time, focus on the support areas below, as there could be a second opportunity to re-enter.

Risk management should have a clear plan. If the support at 406-410 is effectively broken, the next target is 386-393; if it continues to fall, it may test 335-343. Each support level can serve as a risk control point to avoid being caught in a trap.

Overall, the current trend leans toward bullishness, but final decisions should be based on key levels. Maintain disciplined trading and absolutely avoid going against the trend recklessly.