The analysis focuses on ZEC/USDT, which has experienced a significant downtrend. The speaker identifies key support levels, particularly the previous month's value area low around 345.76 and the 3-month rolling VWAP at 325.98. Despite the prevailing bearish sentiment, the speaker suggests that these levels could act as strong support, potentially leading to a short-term bullish reversal. The target for this potential move is identified as the 100-day rolling VWAP around 465.32, which also aligns with a liquidity gap. The speaker notes that the confluence of these factors, including negative funding rates, indicates an opportunity for a bullish trade setup.