ZEC has been on a crazy rally these days, soaring from under $390 to $449 within a single day, an increase of over 12%. Watching the numbers jump happily in the account, many might feel a sense of joy. But if you hold a significant ZEC position, I advise you not to get too excited just yet—consider selling.

Why do I say that?

First, look at the technicals. Although EMA and MACD both indicate upward momentum, the RSI has quietly entered the overbought zone. What does this mean? The rally is too rapid, market sentiment is overheated, and a correction could happen at any time. Looking at the price, it peaked at $457 within 24 hours but then clearly lost momentum and failed to break through further. Resistance above is heavy; each upward step consumes a lot of buying power, and current trading volume is starting to show signs of fatigue.

Whales are quietly acting. On-chain data shows that large holders with over a million dollars have been accumulating at recent lows, increasing their balances by 21%. This sounds like good news, but don’t forget, whales often hoard not to chase highs but to distribute at higher prices in the future. When they start to sell, retail investors won’t be able to keep up.

Let’s also consider market sentiment. The narrative around privacy coins has been hot lately, and Zcash has been hailed as a “star of privacy solutions,” with social discussion heat increasing by over 54%. But hot topics come and go quickly. Once sentiment cools and there’s no sustained capital or fundamental support, the decline can be more brutal than the rise.

For coins like ZEC, the rise may be slow and grinding, but the fall often comes in a cliff-like manner. Because its liquidity isn’t as good as mainstream coins, large holders selling off and retail following suit can wipe out tens of dollars in just a few minutes. Currently, the price is hovering at a high level, with obvious limited upside, but downside potential is open—first support is around $390, which is a drop of over 10%.

So, if your position is heavy and you’ve already made some profits, it’s better to take advantage of the current good sentiment and high prices to gradually reduce your holdings or sell everything. In the crypto world, those who buy are apprentices; those who sell are the masters. Don’t wait until the feast is over and realize you just came to wash the dishes. $ZEC ‌#加密市场观察