Recently, ZEC's on-chain activity has been quite interesting—anonymous wallets are withdrawing large amounts from exchanges. Coupled with the phenomenon of long positions with three times leverage floating profits exceeding $5 million, it is clear that significant capital is actively involved. Many retail investors, seeing the short-term surge, can't sit still and fear missing out, but this is precisely when things are most prone to go wrong. The history of privacy coins tells us that rapid increases often lead to intense volatility, and the risks of long and short squeezes in the derivatives market should not be underestimated.

It is especially important to remember that chasing gains before breaking through key resistance levels is essentially digging your own grave. While whale accumulation does send some positive signals, their cost basis and whether the overall market can absorb such positions still need to be observed. The truly smart approach is to monitor changes in on-chain chip distribution, rather than just focusing on price fluctuations.

Technical reference: The current price is around 516.92 USDT, approaching the resistance level at 518.99, so caution is advised. Support levels are at around 507.56, with a deeper support zone between 434.22 and 442.0. If the price pulls back near support, consider placing buy orders, but if it breaks below support, stop-loss decisively. This is how the market works—opportunities and risks often hinge on a single thought.