Yesterday, the price of ZEC was still struggling around $410, but today, it has already plunged to around $350. This kind of trend is not surprising—every surge is immediately sold off, and the whales have no intention of supporting the price. They're simply using each pump as an opportunity to offload their holdings.

Looking at the trading data, ZEC dropped from $409 to $347 within 24 hours, a decline of over 9%. Although the trading volume is significant, it’s clearly dominated by sell orders. The MA moving averages are showing a bearish alignment, and short-term indicators are all in the doldrums. The so-called "oversold" condition for ZEC doesn’t signal an imminent rebound; it looks more like the start of a prolonged downward drift.

Many are still hoping that Grayscale’s ETF will bring a turnaround, but institutional entry is often not to pump the price, but rather to facilitate more efficient selling. As a privacy coin, ZEC has already deviated from the “store of value” narrative in actual use, and has mostly become a tool for money laundering and short-term transfers. Once its purpose is served, it’s just a chip to be discarded.

Coins without real value backing will ultimately return to where they belong. ZEC hovering below $100 is the true norm, and any so-called “surge” is just a façade created by whales to unload. The market is becoming increasingly rational and won’t buy into this kind of playbook anymore.

If you’re still holding, it’s time to wake up. ZEC’s path to value correction has only just begun. $ZEC ‌#十二月行情展望