Overview
- ZEC hit a four-year peak near $296.9 over the weekend before sliding about 25% to roughly $222.8, with $200 flagged as the near-term level to hold.
- Bybit liquidation data shows roughly $21.49 million in leveraged longs versus $3.43 million in shorts, creating a potential cascade risk on a drop toward the $178 area, while a dense liquidation cluster around $210–$200 may attract defense.
- Technicals previously turned constructive with a golden cross and an ascending triangle; a move back above about $242.46 could open a retest of $270–$290, whereas failure below $200 risks downside toward $170–$180.
- Buying pressure remains elevated with the Money Flow Index above 95 and a positive Chaikin Money Flow near 0.25, suggesting continued participation from both retail traders and larger holders.
- Market context includes a reported futures open interest record near $360 million and a shielded supply around 27% of ZEC, with reports of a planned Grayscale Zcash fund and caution tied to renewed U.S.–China trade tensions and a closely watched Fed chair speech.