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ZEC at $1380, do you still dare to chase? First, look at the surface: it’s skyrocketed, but no one dares to sell. Up 24% in the past 7 days, 380% in 30 days, from $180 at the start of the year to now $1380, market cap surged into the top ten. Today it touched a near-year high of 1397 intraday, daily chart shows bullish alignment, all moving averages pointing up, RSI 65-70, the trend is still intact but short-term overheated. First thing: NU7 voting is not a bullish signal, it’s a “heart transplant.” About 2.4 million ZEC participated in the vote, 99.9% supported reducing block time from 75 seconds to 25 seconds, 98.9% insisted on Bitcoin-style halving, 96.6% supported NSM token burn with reissuance in 2031. Block speed triples, ZEC transforms from a “slow store of value” to a “usable payment network.” Halving remains, 21 million cap unchanged, hard money attribute locked in. Second thing: ETFs are attracting capital, institutions are openly building positions. Grayscale ZCSH spot ETF launched on August 25, AUM grew rapidly. Paradigm co-founder Matt Huang publicly called ZEC “Bitcoin’s privacy supplement” and revealed the company already holds positions. Grayscale’s ETF keeps buying. Top-tier institutions like Paradigm publicly endorse. Privacy sector funds are actively rotating, ZEC leads the rally. Third thing: Shorts are being buried alive. Perpetual funding rate -0.023%, shorts pay longs daily. 24-hour short liquidations far exceed longs, liquidation data is one-sided. Shorts don’t die, price keeps rising. Every rally forces shorts to cover by buying, creating a "short squeeze spiral." How did the 1397 high form? Shorts were cornered and forced to liquidate en masse. But conversely—after shorts are liquidated, who takes over? Long-short battle, judge for yourself. On one side: NU7 vote passed 99.9%, block time cut to 25 seconds, network fundamentally changes. Grayscale ETF keeps attracting capital, Paradigm openly holds. Negative funding rate squeezes shorts, trend strong. Privacy sector repriced, ZEC rises from forgotten to top ten. On the other side: Up 380% in 30 days, seriously overbought short-term. 1380-1400 is both psychological and technical resistance. 4-hour chart shows accelerating upper shadows, clear need for pullback. Altcoins often pull back 20-30% after big rallies. Resistance above: 1400 (psychological) → 1500 (round number) → 1750-1865 (pattern target). Support below: 1320-1300 (today’s low + previous high turned support) → 1250 (key platform) → 1100-1080 (strong support). Trading strategy Aggressive: Light long positions at 1380-1390, stop loss below 1320, target 1420-1450, break 1400 to watch 1500. Conservative: Wait for pullback to 1320-1300 or around 1250 to scale in, stop loss 1200-1180. First target 1500, second target 1700+. Existing positions: Reduce 1/3 to 1/2 near 1380 to lock profits, protect the rest with trailing stop. Shorts: Currently not recommended to short against the trend. Funding rate and liquidation data unfavorable to shorts. Consider only if it clearly breaks below 1250 with volume. 99.9% vote approval is not manipulable by whales—this is true consensus. But 1380 is not a starting point, it’s a high after acceleration. Chasing highs always dies in pullbacks. ZEC’s logic hasn’t changed, what changed is your cost. Those who missed 1100 and chase 1380 will doubt everything after a pullback. At 1380, do you dare to chase? $BTC $ETH $ZEC