ZEC just broke through the $400 mark, liquidity was quickly replenished, and then it continued to rise. However, to be honest, this candlestick pattern is not very ideal.

Currently, the price is repeatedly testing the $385 level, an area that has been successfully defended multiple times since the previous lows. If this level is broken, the next target for a sharp decline is around $360, and at that point, the bulls' positions will be completely wiped out.

The technical outlook is not optimistic. The daily, 4-hour, and 1-hour charts all show a bearish pattern, with buying momentum continuously weakening and trading volume extremely sparse. This indicates that the buying power above $400 is severely overextended.

The key now is whether this level can hold its ground. If the rebound proceeds smoothly, the upward momentum can be maintained, forming higher lows; otherwise, the correction will intensify, and those previous lows may be tested again at any time.