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ZEC ZEC suffered a liquidation of US$28.37 million, and its price fell 16% from its recent high.
As Zcash (ZEC) price fell sharply by 16% from its latest high, leveraged traders rushed to close their positions, leading to large-scale liquidation. According to the latest market data, the total liquidation amount related to ZECs in the past 24 hours reached US$28.37 million. Among them, the clearing amount of long positions was US$23.75 million, and the clearing amount of short positions was US$4.62 million.
Long traders suffer from rapid selling
This huge imbalance highlights the aggressive position strategy of long traders. They had expected further price increases, but suffered losses due to a sudden price reversal. At the height of the sell-off, selling pressure intensified, resulting in a total of $11.49 million in liquidation in just 12 hours. During this period, long positions were cleared as high as US$9.4 million.
The rapid shift in market sentiment was also reflected in the four-hour data: total liquidations during the period were US$1.34 million, including US$1.19 million liquidations from short positions. This suggests that market optimism quickly turned to caution as the rally weakened. During periods of high volatility, ZEC's total liquidations in 24 hours reached US$28.37 million, with most of the losses borne by traders who aggressively established long positions during the recent surge in tokens.
ZEC is still at the top of key technologies
Despite rapid deleveraging and massive liquidations, ZEC still trades above important technical indicators on the daily chart. Current prices are well above the 50-day and 100-day moving averages, which are around $689 and $646 respectively. The 20-day moving average is close to $910, while the long-term trend line is anchored around $531.
These data highlight the magnitude of the recent rebound: ZEC climbed from below $500 to above $1200 in a few weeks. The widening gap between ZEC's market value and these moving averages reflects both the scale of price fluctuations and the high-risk environment faced by highly leveraged traders.
Kinetic Energy and Risk Outlook
The Relative Strength Index (RSI), which previously showed overbought conditions, has cooled to around 64. Although still above the neutral threshold, this reading suggests that market momentum is weakening after a sharp rebound. This shift means market participants have little room for complacency in the short term.
Currently, traders appear to view the $1050 to $1100 price range as a key support area for ZEC. If the tokens can consolidate above that level, another round of recovery may be attempted. However, if prices continue to fall below this range, the possibility of a further decline to the moving average of $910 increases.
After an extraordinary price surge, the current liquidation event may represent a broader market reset. Until volatility stabilizes and buyers regain control of the situation, ZEC may remain exposed to rapid and unpredictable price fluctuations.
Mini Dictionary
Zcash (ZEC): Launched in 2016, it is a privacy-focused cryptocurrency that aims to provide selective transparency for transactions using zero-knowledge proof, allowing users to achieve verification on the blockchain without disclosing transaction details to the public.
