ZEC's recent price action is quite interesting. On the daily chart, two consecutive bullish candles have pulled the price back up, essentially marking a bottom and a rebound. However, there's an issue now—the price has already hit the 60-day moving average, and the MACD has long since dropped below the zero line and started diverging.

What does this technical pattern indicate? The ceiling for this short-term rebound is basically here. If ZEC continues approaching 400, it's best not to chase the rally, as there's a high chance it will surge up only to fall back down. The technicals are clear; it's wise to remain cautious.