$ZEC On one day, it fell about 12%, but this month it’s still up more than 60%.
On Binance spot, ZEC was at $835 30 days ago, and it peaked at $1698. Now it’s $1397. This week, it dropped from $1630 to a low of $1356.
This pullback is mainly profit-taking: the range between 1600 and 1700 was tested several times but couldn’t be broken through. Across the whole market, total ZEC perpetual open positions are about $2.68 billion, with leverage not low—when it falls, chain liquidations are more likely.
There’s also a lingering variable: ZEC is included among the assets that were stolen from Bitget, and the market worries that these coins may be dumped.
As for positioning, first look at 1350 to 1400 below; further down is 1250 to 1300. On the upside, 1500 is the first resistance area, and 1600 to 1700 is the prior high zone.
The idea is: before reclaiming 1500, treat it as a rebound—don’t chase. If it breaks below 1350, it suggests the profit-taking hasn’t finished yet. This week, leverage is best one level lower than usual.
$ZEC
On Binance spot, ZEC was at $835 30 days ago, and it peaked at $1698. Now it’s $1397. This week, it dropped from $1630 to a low of $1356.
This pullback is mainly profit-taking: the range between 1600 and 1700 was tested several times but couldn’t be broken through. Across the whole market, total ZEC perpetual open positions are about $2.68 billion, with leverage not low—when it falls, chain liquidations are more likely.
There’s also a lingering variable: ZEC is included among the assets that were stolen from Bitget, and the market worries that these coins may be dumped.
As for positioning, first look at 1350 to 1400 below; further down is 1250 to 1300. On the upside, 1500 is the first resistance area, and 1600 to 1700 is the prior high zone.
The idea is: before reclaiming 1500, treat it as a rebound—don’t chase. If it breaks below 1350, it suggests the profit-taking hasn’t finished yet. This week, leverage is best one level lower than usual.
$ZEC