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ZEC's recent pressure is quite significant. From a technical perspective, levels above 550 are essentially historical trapped positions, and the rebound momentum has always been insufficient. The funding rate is still at -2, indicating that market sentiment has already turned notably weak. In comparison, RIVER is also stuck, and the entire sector appears weak and powerless.
Rather than stubbornly holding onto spot positions and waiting for a rebound, it might be better to consider hedging with short positions. The advantage of entering now is that you don't have to worry too much about funding rate erosion—negative rates are essentially subsidizing shorts. In the short term, there seems to be no reason to believe this pressure can be broken, and once a waterfall decline forms, the speed can be surprisingly fast.
The key is to wait for that moment. Once a valid breakdown occurs, participants will quickly follow, and the opportunity for gains will be right in front of you.