Recently, ZEC/USDT has shown clear resistance on the 1-hour chart. Observing the Bollinger Bands, the price is close to the lower band (LB: 455.68), with the latest close at 457.04, indicating a bearish control. The MACD indicator's green bars below the zero line are expanding, and both MA(7) and MA(30) are arranged downward, with the EMA trend also pointing downward, revealing short-term weakness signals in the overall technical structure.

From an on-chain perspective, large fund activity is insufficient, trading volume is weak, and there are no obvious signs of bottom-fishing. The news sentiment remains calm, and the market mood has not shown any significant uplifting factors, with market participation remaining relatively cautious.

Based on a comprehensive analysis of technical, on-chain, and news dimensions, ZEC still faces downward pressure in the short term. Recent trading strategies can focus on around 450 as a technical support reference. It is recommended to remain cautious until the bearish trend improves. If there is a weak rebound or a break of technical levels, further short positions can be considered. For risk management, it is advised to set reasonable stop-losses, control individual position risks, and avoid impulsive actions until the direction is clear.