Staring at the ZEC candlestick chart, the more I look, the more I feel something's off. The price keeps falling, and clearly all technical indicators are signaling bearishness—short-term moving averages, MACD, RSI—all point to downside. Yet, somehow, there are still people shouting “Institutions are buying” and “Privacy coins are strong” in the market.

Yes, that's right, there are institutions buying. Cypherpunk Holdings has added to their position again, pushing their holdings to 290,000 ZEC. But look carefully—this seems more like them stacking chips on their own table rather than genuinely optimistic about the future. On one side, institutions are “stockpiling,” and on the other, the coin's price is declining. Isn’t this script a bit familiar?

Take a look at the so-called “outstanding performance of the privacy coin sector.” Indeed, ZEC surged significantly in the past few months, multiplying several times over 90 days. But that’s already in the past. Recently, the overall market has been weak, and ZEC has also turned downward, clearly a correction after a rally, possibly even main players pushing the price up to offload. Jumping in now, aren’t you just the bagholder?

And let’s not forget that “ZEC ETF application” that sounds so promising. An application is just an application—whether it gets approved, when it gets approved, all unknown. Such news is often just a smoke screen to stir market sentiment and manipulate the market. When it finally materializes, who knows how many people have already cut their losses and exited?

Honestly, how much real value does this coin have? No matter how advanced the technology or how strong the privacy features are, if the team’s focus isn’t on development but on how to fleece retail investors, then all the positive news could just be traps. Candlestick charts don’t lie; the trend is clear: down. What are smart investors doing now? Either reducing their positions and waiting, or shorting with the trend. Holding on stubbornly or trying to bottom fish? That might just be setting a trap for themselves.

The market is never short of stories, nor short of people fooled by stories. Right now, ZEC’s movement seems more like someone telling a story while quietly stepping away. If you don’t want to be the “main character” in that story, it’s best to calmly observe the candlestick chart and not be swayed by promotional hype. #加密行情预测 $ZEC