ZEC's recent performance is indeed somewhat concerning. The price has been continuously declining, with bears clearly gaining the upper hand, and many investors are starting to feel nervous. Some have pointed out that there hasn't been much visible follow-up action from the project team, which has raised questions about the fundamentals. Those who successfully shorted earlier have already made profits, but those looking to buy the dip are having a harder time these days.

From a chart perspective, breakdown signals have appeared multiple times, with each bounce appearing halfhearted, indicating that market enthusiasm for ZEC is clearly declining. The overall sentiment is bearish, with the market broadly believing prices may continue to explore lower levels.

From a technical standpoint, the current price is near 374.01 USDT. In the short term, support appears to be around 380.85 (approximately 2.72% away from current levels), while resistance above is at 438.66 (approximately 12.05% away). The recommended trading approach is: when approaching the support level, consider placing orders to go long for a test, but once support breaks, you must decisively stop losses and not gamble. At this point, caution is indeed necessary, with risk management as the priority.