ZEC's recent performance is quite interesting, and some clues can be seen from a technical perspective.

Currently, the price is around 517.78, up 10.94% in 24 hours, retreating from the intraday high of 528.86 to the low of 465.21, showing a typical pattern of a rally followed by consolidation. Although there have been a few pulses of increased volume, they haven't sustained, indicating that active buying is actually waning, and retail investors' enthusiasm for buying the dip has significantly diminished.

Looking at the technical indicators makes it even clearer. The Bollinger Bands have contracted, with the price stuck near the middle band (517.63), with upper and lower bands at 518.47 and 516.79 respectively, making the trading range very narrow. The MACD (DIF) of 0.12 has already fallen below DEA (0.14), and the histogram has turned negative (-0.02), a typical bearish divergence indicating that the bullish momentum is clearly weakening. Regarding moving averages, the 5-period MA is still under pressure from the high of 575.7584, while the 10-period MA at 487.6574 provides support. The short-term rapid rally faces quite obvious resistance.

From a trading perspective, in the short term (1-minute to 1-hour levels), the main trend is consolidation. The key resistance levels are the upper Bollinger Band at 518.47 and the intraday high of 528.86; the support levels are the lower Bollinger Band at 516.79 and the intraday low of 465.21. If the price falls below 516.79, it could go further down; conversely, if it can hold above 518.47, there is a possibility of testing the previous high again.

But honestly, with such a large increase over 24 hours, profit-taking in the short term is quite urgent. Today is likely to see a high-level consolidation, and sustained upward movement is unlikely. Watching and waiting is the more prudent approach.