I think this privacy coin rally in ZEC is over.
It ran from 250 to 1,699, nearly a 7x gain. Now it’s pulled back to around 1,240, and it dumped almost 6% again today.
I checked the smart money data: the average entry price for longs is only 970, and they’re still sitting on over 52 million USDT in unrealized profits. But the problem is, the nominal long/short ratio has hit 297%: 610 longs are holding 240M in positions versus 531 shorts. More importantly, only 28% of longs are in profit, while 68% of shorts are making money—the majority of those who chased the rally are already underwater.
My take: the rebound is over, and we’ll keep probing lower from here. The average cost of 970 is the anchor. If it can’t hold, the 1,000 level will probably break. Then those unrealized gains turn into losses, and the sell-off could get even nastier.
Calling it now—let’s see what happens. Anyone else bearish like me? Drop your position in the comments.
$ZEC #ZEC #隐私币 #合约 #Short
It ran from 250 to 1,699, nearly a 7x gain. Now it’s pulled back to around 1,240, and it dumped almost 6% again today.
I checked the smart money data: the average entry price for longs is only 970, and they’re still sitting on over 52 million USDT in unrealized profits. But the problem is, the nominal long/short ratio has hit 297%: 610 longs are holding 240M in positions versus 531 shorts. More importantly, only 28% of longs are in profit, while 68% of shorts are making money—the majority of those who chased the rally are already underwater.
My take: the rebound is over, and we’ll keep probing lower from here. The average cost of 970 is the anchor. If it can’t hold, the 1,000 level will probably break. Then those unrealized gains turn into losses, and the sell-off could get even nastier.
Calling it now—let’s see what happens. Anyone else bearish like me? Drop your position in the comments.
$ZEC #ZEC #隐私币 #合约 #Short