ZEC's recent trend has indeed been a bit sluggish. After breaking below 512, it neither continued to decline as everyone expected nor showed strong rebound momentum. It just lingered in the middle, which is quite uncomfortable to watch. However, instead of fixating on short-term ups and downs, it's better to focus on those key levels that can truly change the situation.

From a technical perspective, ZEC is currently facing a confrontation at three core price levels: the support at 476 on the left, the support at 512 in the middle, and the resistance at 516.6 on the right. These three levels are like critical goals on a football field—until they are broken, the game continues; once lost, the entire situation will flip completely.

Let's first talk about the 476 "life and death" line. Looking back at the entire wave, from the bottom at 301, the three upward moves, 476 happens to be the end of the second wave and the start of the third. How important is this level? If it breaks below, it means the three-wave upward structure is completely dismantled, and market sentiment will shift from "rebound expectation" directly to "downward pressure." What will happen then? Funds that chased the high will start cutting losses, and those trying to bottom fish will hesitate to act. ZEC will enter a "free fall" phase, returning near 301 to find new support.

This is why the 476 level must be closely watched. Whether you are holding a position or planning to participate, this level is a watershed. Breaking below changes the pattern; only if it stabilizes can a rebound be hoped for. The resistance at 516.6 above is the touchstone for whether the rebound can continue—only a breakout can open up upward space.

The gains and losses at key levels often determine the subsequent market trend more than mere price movements. Once you understand this logic, trading becomes much clearer.