$ZHIPU USDT — SHORT. The broader market direction is bearish, with price down across the 20-, 50-, and 100-period readings, including a much larger 100-period decline. The structure also shows more lower lows than higher highs, while trading volume is only about 57% of its reference level, pointing to weak buying participation. The move would be confirmed by a break below 128.18; holding that support and reclaiming higher levels would weaken the short view.