The technical trend is strongly bullish, and nearly all moving averages have now moved below the price.
What happened?
1. Many traders thought ZEC had risen too much.
2. They started opening short positions.
3. Instead of falling, the price broke through important resistance levels.
4. Short positions started getting liquidated.
5. Closing a short means buying ZEC.
6. This forced buying pushes the price higher.
7. The rising price liquidates additional shorts.
🔄 So the process turns into an accelerating loop:
Price rises → short liquidations → forced buying → even higher prices → more short liquidations.
Recent reports also indicate that the rally above $1,000 caused tens of millions of dollars in position liquidations, most of which were bearish positions.
$ZEC
#altcoins
#bnb
What happened?
1. Many traders thought ZEC had risen too much.
2. They started opening short positions.
3. Instead of falling, the price broke through important resistance levels.
4. Short positions started getting liquidated.
5. Closing a short means buying ZEC.
6. This forced buying pushes the price higher.
7. The rising price liquidates additional shorts.
🔄 So the process turns into an accelerating loop:
Price rises → short liquidations → forced buying → even higher prices → more short liquidations.
Recent reports also indicate that the rally above $1,000 caused tens of millions of dollars in position liquidations, most of which were bearish positions.
$ZEC
#altcoins
#bnb