ZEC was unable to continue moving above the $550 zone and entered a correction phase. Currently, the price has reacted to the round level of $500. If the coin fails to break its local high afterward, a continuation of the decline toward the nearest support area—$460–482—can be expected.

Meanwhile, considering ZEC's nature and its tendency to move above round levels without prior liquidity removal, I recommend waiting for a second approach to $500 and only then considering a short position.