Recently, ZEC's performance has indeed been concerning. From a technical perspective, the MACD indicator has formed a death cross, which usually signals that momentum may weaken. More notably, there are clear signs of significant capital outflows—this often reflects market participants' attitudes towards future trends.

From a price perspective, the 400 level seems to be facing pressure. Once this key support is broken, it may trigger a chain reaction. Of course, technical indicators are just a reference; the real direction is determined by market sentiment and capital flow. For holders, it is indeed necessary to assess their risk tolerance more cautiously now. Many traders have already started adjusting their strategies, and this signal should not be ignored.