#大户持仓动态 ZEC Spot Market Quick Report | 20251220 04:00 UTC

Privacy coin ZEC's recent market movement is indeed quite interesting. The price has risen significantly and attracted a lot of attention, but the technical picture is quite chaotic—bullish signals and bearish signals are clashing, so it’s worth taking a closer look.

【Why is everyone watching ZEC】
Recently, institutions like Arthur Hayes and Grayscale have heavily promoted privacy features, positioning ZEC as a serious privacy solution with store-of-value attributes. This has quickly turned it from a niche topic into a target for institutional investors. Big whales are also showing support—when the price dropped to $400, they aggressively increased their holdings by 21%, accumulating a total of $1.27 million worth of ZEC, clearly betting on its long-term value.

【Technical outlook looks good, but details are problematic】
The EMA indicators are quite impressive—7-period EMA is well above the 25 and 99-period EMAs, indicating a solid short- to medium-term uptrend. The issue lies with the MACD—recent candles show the MACD line has crossed below the signal line, and the histogram has turned negative. This is a concerning sign: bearish momentum may be emerging.

【There are pitfalls ahead】
ZEC is currently testing the supply zone between $450 and $470, which faces strong resistance. If it cannot hold steady, a correction could happen at any time. Recently, the capital flow has also been unusual—net outflows have increased over the past hour, and large inflows are fluctuating, indicating some traders are taking profits while others are waiting on the sidelines.

【Community sentiment】
The majority are optimistic, with some even calling for higher price targets. Ecosystem integrations like ZcashFi are also viewed positively. However, there are cautious voices reminding that short-term risks do exist, and proper risk management and clear entry/exit plans are essential.