If you still hold ZEC, now might be the last decent opportunity to exit.

Open the weekly chart of ZEC, and everything is already clear — a classic double top pattern has been completed. The first top was formed during the rally in 2025, and the second top is this recent surge followed by a pullback. The gap between the two peaks is significant, and the volume is not deceptive; the rebound volume on the right side is clearly weaker than on the left, which in technical analysis indicates what seasoned traders understand well.

The current price is around $521, seemingly still oscillating at a high level, but the moving average system has already issued a warning. MA(7) and MA(25), although still below the price, show that the MACD histogram has started to shrink, and the DIF and DEA are converging — the most direct signal of waning momentum. Look at that MA(99), at $148, far below, like a net waiting to catch something — but before that, the price will first experience a free fall.

Where will it fall? Many will pull out previous support levels, draw Fibonacci retracements, claiming that $300 has strong support. Don’t be too naive. Once the double top structure confirms the neckline is broken downward, the downside space is often equal to the height of the top in the top zone. According to this logic, ZEC should fall below $200 to be reasonable. But the market is never perfectly predictable — panic emotions will push the price too far.

I judge that this wave will fall to a level nobody expects, below $100.

Don’t think it’s exaggerated. ZEC itself is a privacy coin, and as global regulators tighten their scrutiny, this is the biggest fundamental risk. News like Grayscale applying for an ETF, Multicoin Capital’s holdings, or NEAR integration can bring short-term hype, but they won’t change the long-term trend of liquidity drying up. Even Arthur Hayes’ calls are useless; once market sentiment turns bearish, these so-called “endorsements” will be forgotten quickly.

Volume also indicates the problem. In 24 hours, over 210k ZEC were traded, totaling just over 114 million USDT. For such an established coin, this volume cannot support the current price at all. The Vol indicator shows a trading volume of 650k, far below the 1.3 million+ of MA(5) and MA(10). After a volume decline and sideways consolidation, it often results in a big bearish candle.

There’s no reason to hesitate in trading. Those with heavy positions should reduce now — it’s still possible; those with light positions shouldn’t hold onto hopes of averaging down, nor think about bottom fishing. The double top pattern is playing out, and both time and space are on the bears’ side. When the price truly drops below $100, looking back at today’s $521, you’ll be glad you made the right decision.

This token, sell what needs to be sold, don’t wait. $ZEC ‌#美国4月PPI同比暴涨6%