$ZEC
ZCASH FALLS SHARPLY AND $1,000 IS BACK ON THE RADAR.
ZEC is having a difficult day after recording a drop of nearly 11% over the past 24 hours.
The price is hovering around $1,140 after losing key support levels and breaking a trendline that had been sustaining its recovery.
The pressure is also reflected in the derivatives market.
Over the past 24 hours, $13.61 million in leveraged positions were liquidated, of which approximately $12.03 million were long positions.
- This represents about 88% of the total and shows the impact the drop had on traders betting on a rise.
Attention is now focused on $1,100. If ZEC loses that level on a daily close, the next significant support is near $1,001, an area that could increase pressure on larger leveraged positions.
Conversely, reclaiming $1,201 would be an initial sign of improvement and would make it possible to assess a potential return toward $1,319.
After reaching highs near $1,700 in September, Zcash is facing a correction that is once again putting its trend structure to the test.
TRADE HERE 👇
#zec #crypto #TrendingTopic #TradingCommunity #altcoins
ZCASH FALLS SHARPLY AND $1,000 IS BACK ON THE RADAR.
ZEC is having a difficult day after recording a drop of nearly 11% over the past 24 hours.
The price is hovering around $1,140 after losing key support levels and breaking a trendline that had been sustaining its recovery.
The pressure is also reflected in the derivatives market.
Over the past 24 hours, $13.61 million in leveraged positions were liquidated, of which approximately $12.03 million were long positions.
- This represents about 88% of the total and shows the impact the drop had on traders betting on a rise.
Attention is now focused on $1,100. If ZEC loses that level on a daily close, the next significant support is near $1,001, an area that could increase pressure on larger leveraged positions.
Conversely, reclaiming $1,201 would be an initial sign of improvement and would make it possible to assess a potential return toward $1,319.
After reaching highs near $1,700 in September, Zcash is facing a correction that is once again putting its trend structure to the test.
TRADE HERE 👇
#zec #crypto #TrendingTopic #TradingCommunity #altcoins
