Zcash’s 34% Breakdown Triggered — Why It Could All Be A Setup To Trap The Bears
Despite a technical breakdown suggesting a 34% drop, Zcash is showing signs of accumulation by large holders, hinting at a potential bear trap.Summary
Zcash (ZEC) has technically confirmed a bearish breakdown, losing the critical 100-day EMA and activating a head-and-shoulders pattern that projects a potential 34% downside move. However, the market reaction is unusual: instead of continued selling, large holders (whales) have increased their positions, and exchange balances have dropped, indicating accumulation into weakness. Furthermore, derivatives data shows that short positioning is heavily skewed, with nearly twice the liquidation exposure for shorts ($15.4M) compared to longs ($7.8M). This imbalance suggests the breakdown might be a setup to trap bears, as even a moderate bounce could trigger short liquidations, accelerating upward price movement toward resistance levels like $375–$400. The bearish thesis remains valid only if ZEC sustains a break below $329.
(Source：BeInCrypto)