If you've been watching ZEC's market recently, you should have noticed— that familiar manipulation technique is back.

In the past day or two, ZEC moved in a very standard pattern. First, a quick surge, jumping over 5 points in just one hour, with the price reaching above $257, accompanied by increased trading volume. Data shows that the 24-hour trading volume approached 480,000 ZEC, with a trading value of 119 million USD, clearly not retail investors playing around.

But what’s really interesting is what happens after the surge.

The market maker didn’t rush to push the price higher but instead started to “step on” it downward. A single bearish candle appeared, directly testing the support levels below. This tactic is easy for seasoned traders to recognize—initially pushing the price up to attract attention, then quickly pulling back to scare off weaker hands. Especially those trading futures, chasing the high, or with less conviction—this dip usually clears them out.

If you look at the 4-hour chart, the MA25 and MA99 are both supporting around $228, forming a clear support zone. The market maker stopped here, showing no intention of breaking lower. Now, the price is gradually recovering, standing above $247, with MACD maintaining a bullish alignment, indicating the market isn’t turning bad—in fact, it’s a classic “push—step back—stabilize—push again” rhythm.

The fundamentals of ZEC have actually strengthened quite a bit compared to before.

On one hand, top institutions like Paradigm, a16z, and Coinbase Ventures recently invested $25 million into the Zcash ecosystem, a significant endorsement. On the other hand, the SEC investigation that troubled the project for years has finally concluded without charges, clearing regulatory uncertainties. Institutions are willing to enter, and regulations are becoming clearer—ZEC is no longer just a hype-driven asset.

Currently, the market action is essentially the market maker exploiting the last bit of panic to shake out the undecided. For those who understand, this isn’t risk—it’s opportunity.

This “push—step back” script has played out countless times in the crypto world. Every time, it’s the same formula: pump to attract followers, then pull back to create panic, and once everyone who needs to leave has left, the real upward wave begins.

At this position, both technically and fundamentally, signals are already pointing in a positive direction. The only question now is who can hold on. $ZEC #加密市场普遍上涨