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Have you chased the $1010 ZEC? Let's look at the surface first: after ten years, retail investors are crazily chasing back into the thousand-yuan price. On August 25, the Grayscale Spot ETF (ZCSH) was listed on NYSE Arca. ZEC jumped directly from 800 to above 1000, reaching a high of 1046. In 24 hours, turnover exceeded 1 billion, and short positions were liquidated by 34 million. The daily RSI has reached 78-80, and the weekly RSI has surged to 73+—overbought and overbought beyond measure. First: ETFs have really been implemented, but the price has already been driven away ahead of time. Grayscale spot ETF (ZCSH) was listed on August 25, with an initial net inflow of 34 million and over 400,000 ZEC in holdings. Institutional channels have opened, which is the strongest catalyst for ZEC. But this rally from 800 to 1000 has already completely eaten up ETF expectations. The second thing: ZEC's fundamentals have indeed changed, but $1,000 has already been heavily exhausted. Total supply is 21 million, with shielded pools accounting for 30% (about 4.8 million tokens), and circulating supply is tighter SEC investigation concluded (no enforcement action), and the compliance channel opened Cypherpunk Technologies continues to accumulate coins, targeting 5% of circulating supply The proportion of blocked transactions continues to rise, and real demand is growing From $40 to $1,000, a 25-fold increase. Fundamentals supported this rally, but prices have already outpaced fundamentals. Good assets + good prices = good investments. Good assets + bad prices = bad investments. ZEC is a good asset now, but is the price a good price? Third thing: In the next two weeks, macroeconomic issues are the biggest surprise. CPI will be released on September 11, FOMC will be held on September 15-16. If CPI is relatively high, rate hike expectations will heat up, and high-level imitators will be the first to fall If the FOMC leans hawkish and liquidity tightens, a high-beta pullback of 20-30% for ZEC is normal The market is now tightly tied to the Fed, BTC hovers around 80,000, but can ZEC's independent narrative withstand macro negative factors? Resistance above: 1046-1050 → 1100 → 1200 Support below: 1000 (psychological level + breakout level) → 890-920 → 775-800 Operational strategy If you are short on positions: Wait for a pullback to 1000-980 for volume reduction and stabilization, then lighten and test long. Set a stop loss below 960. Target 1045-1100; reduce position once it reaches it. If you have floating profits from your positions: First, cut down one-third to half to lower costs. Set the remaining stop-loss at 920-950. Don't fantasize about going straight to 1500; protect your profits first. If you just chased the highs and got stuck: Don't panic, but don't hold out either. If volume drops below 1000, exit first, wait for 890-920 before buying. CPI and FOMC reduced positions in the first three days When funding rates turn positive + positions are at a high level, once it weakens, it means buying long stocks ZEC's rise from 40 to 1000 is an explosion of the "compliant privacy" narrative from zero to one— But think about it: in 2020, when BTC rose from 10,000 to 60,000, how many people chased after the peak? The 1000 level is a realization zone, not a position building zone. The ones who buy are the apprentices, the ones who sell are the masters, and the ones who can empty their positions are the founding masters. How much does your ZEC cost? Was it chasing the high at 1010, or was it set up at 800? $BTC $ETH $ZEC