Zcash Price Prediction: $16 Million Bets on a Crash – Is ZEC About to Get Wrecked?
More than $16 million in short-side leverage now outweighs longs by roughly two to one, creating a bleak outlook for near-term Zcash price predictions.
Speculative demand has surged, with open curiosity climbing nearly $50 million up to now this week, but the focus of that capital presents little reassurance for the altcoin.
On Binance’s ZEC perpetual pair, quick liquidation leverage sits above $16 million, whereas long-side liquidation ranges hover nearer to $8 million. Traders are overwhelmingly positioning for draw back.
This positioning seems to comply with a two-month head-and-shoulders sample because it breaks decrease, with draw back targets clustering close to December lows round $300.
But whereas derivatives merchants are betting on a continued dip, spot merchants seem to be shopping for it.
The prime 100 largest Zcash whales elevated their holdings by 4.21% throughout Thursday buying and selling. While not aggressive accumulation, it’s notable given how selective capital rotation is correct now.
That divergence leaves Zcash at an inflection level. Derivatives merchants are betting on additional weak point, however regular whale accumulation suggests longer-term conviction could also be forming beneath the floor.
Zcash Price Prediction: What Are Whales Positioning For?
These whales seem to be betting that the neckline holds or that draw back turns into overextended, as $300 is as soon as once more being retested because the decrease help of a wider 4-month bull flag sample.
Momentum indicators make it a chance. The RSI nears the 30 oversold threshold, a degree that usually marks native bottoms as promote stress exhausts.
Similarly, the MACD golden cross that has been brewing over the previous month has lastly been realised. This might stand as an early-stage backside sign for the following leg greater.
The key breakout threshold sits across the head-and-shoulder resistance at $480. Flipping this degree to help coin confirms a push in direction of all-time highs into new value discovery.
Fully realised, the bull flag sample targets the $5,000 milestone, representing an nearly 15x achieve from present costs. Still, this doubtless hinges on a extra beneficial macro backdrop.
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