Zcash Reclaims Momentum — Short Sellers Now Risk Losing $30 Million
Zcash shows renewed strength, potentially forcing $30 million in short seller liquidations if it breaks key resistance levels.Summary
Zcash (ZEC) is demonstrating renewed momentum after a recent bounce, suggesting a potential price rebound that could significantly impact short traders. Analysis of the Chaikin Money Flow (CMF) indicator shows that while it is dipping, it remains above the zero line, historically preceding quick inflows and price rebounds for ZEC.
Broader macro momentum indicates that a continued climb toward the next major resistance near $600 could trigger approximately $30.8 million in liquidations for short positions. Such large-scale liquidations often amplify upside momentum, accelerating the rally. ZEC is currently up 12.6% in 24 hours.
If Zcash breaks above $521 and surpasses $600, a path toward $700 could open, reinforcing the bullish reversal. Conversely, failure to breach $521 might lead to a retracement toward $441 or below $400, invalidating the current bullish outlook.
(Source：BeInCrypto)