ZEC has been interesting lately. The price has been oscillating around $407.61, but looking at the data below, it seems like something different is brewing.

First, let's look at the technical side. ZEC is currently below the 99-day moving average, which is around $415. The recent support holds at $403. The RSI reading is 43.32, and the MACD histogram indicates that selling pressure is easing—this kind of signal usually suggests the market is about to consolidate. On the hourly level, the net fund flow is an outflow of $685,000, indicating that institutions are gradually selling off, but the price is still hovering near the middle band of the Bollinger Bands ($408.74), without breaking below.

Here's the interesting part. Outflows from exchanges have reached $91 million, which is a strong signal. The buy-sell ratio is 1.67, indicating that selling pressure in the market is being absorbed. More importantly, smart money is increasing their positions against the trend—whale holdings have increased to 120, a 7.1% rise. Although they might be slightly in the red on paper now, the bullish ratio remains high.

Looking at top traders' movements, net buying volume has reached 1.3 times, showing that institutional investors are actively bottom-fishing during this price correction. Combining these details, the short term may face some consolidation, but the support levels are still intact, and the positioning of large funds is worth paying attention to.