$ZEC ALERT: Massive Long Liquidations!
Zcash (#zec ) is showing high volatility as significant long positions have just been liquidated:
$5.56K liquidated at $476.88
$7.37K liquidated at $477.57
This indicates strong resistance around the $476–478 zone. The market is clearly reacting to these liquidation cascades, which may trigger further downward pressure if bears continue to dominate.
Market Insights & Analysis:
ZEC has struggled to hold above $478 and is currently seeing sellers stepping in aggressively. The liquidation of long positions shows that many traders were over-leveraged at this resistance. This could lead to a short-term retracement or consolidation before the next push.
Next Move / Strategy:
TG1 (First Target): $470 – Immediate support from previous swing lows; traders may look for partial entries here.
TG2 (Second Target): $462 – Stronger support zone; could see a bounce if buyers step in.
TG3 (Third Target): $455 – Key support; if broken, a deeper retracement is likely.
Market Trend:
Bearish momentum in short-term, but keep an eye on $470–462 for potential buy zones. Reversal confirmation will need bullish candlestick patterns and volume spikes.
