ZEC has already surged by almost 8%, yet the shorts still haven’t surrendered.

$ZEC is now around **1490**; the 24-hour increase is about **7.8%**, and the high has already touched **1516**.

But here’s what’s interesting—
The perpetual funding rate is still around **-0.026%**.

As price moves upward, the funding rate remains in negative territory, which suggests there are still plenty of traders shorting against the trend.

Also, in this move on the 4-hour timeframe—from around 1360 straight up to above 1480—the OI hasn’t jumped significantly in parallel. I’m more inclined to think this rally includes clear short covering, not just leveraged long positions pushing it higher.

Only if 1515–1520 can truly hold, there’s a chance to keep squeezing shorts further;
if it drops back toward around 1440, then the strength of this run will likely be discounted.

The most interesting question now isn’t whether “ZEC has finished rising,” but:

Do you think it will break through 1520 first, or pull back to 1440 first? $ZEC