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Currently, short-side leverage exceeding $16 million surpasses long positions by approximately two to one, leading to a discouraging forecast for Zcash price predictions in the near term.
Speculative interest has skyrocketed, with open interest rising by nearly $50 million this week alone; however, this concentration of funds provides minimal reassurance for the altcoin.
On Binance’s ZEC perpetual pair, short liquidation leverage exceeds $16 million, whereas long liquidation levels are around $8 million. Traders are predominantly positioning for a downturn.
Binance ZEC/USDT Liquidation Map. Source: Coinglass.
This positioning seems to align with a two-month head-and-shoulders pattern as it descends, with downside targets clustering around December lows near $300.
ZEC USDT 1-day chart – head-and-shoulders breakdown. Source: TradingView.
Yet, while derivatives traders anticipate a continued decline, spot traders seem to be making purchases.
The top 100 largest Zcash whales boosted their holdings by 4.21% during Thursday’s trading. While this isn’t aggressive accumulation, it is significant considering the current selective capital rotation.
This divergence places Zcash at a critical juncture. Derivatives traders are wagering on further weakness, but consistent whale accumulation indicates that long-term confidence may be developing beneath the surface.
Zcash Price Prediction: What Are Whales Positioning For?
These whales seem to be wagering that the neckline will hold or that the downside may become excessively extended, as $300 is once again being tested as the lower support of a broader 4-month bull flag pattern.
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Momentum indicators support this possibility. The RSI approaches the 30 oversold threshold, a level that often signifies local bottoms as selling pressure diminishes.
Likewise, the MACD golden cross that has been forming over the past month has finally materialized. This could act as an early-stage bottom signal for the next upward movement.
The crucial breakout level lies around the head-and-shoulder resistance at $480. Converting this level to support would confirm a move toward all-time highs into new price discovery.
If fully realized, the bull flag pattern aims for the $5,000 milestone, representing nearly a 15x gain from current values. However, this likely depends on a more favorable macro environment.
Bitcoin Hyper: New Presale Bringing Solana Technology to Bitcoin
Although capital rotation into the altcoin market remains selective, those who continue to support bitcoin may already be well-positioned as its ecosystem finally addresses its biggest limitation: scalability.
Bitcoin Hyper ($HYPER) is merging Bitcoin’s security with Solana tech, creating a new Layer-2 network that enables scalable, efficient use cases that Bitcoin alone couldn’t support.
This opens opportunities for Bitcoin to engage more significantly in high-performing narratives like DeFi and real-world assets – where speed and efficiency are crucial.
The project has already secured over $31 million in presale, and post-launch, even a small fraction of Bitcoin’s substantial trading volume could considerably elevate its valuation.
Bitcoin Hyper is addressing the slow transactions, high fees, and limited programmability that have historically constrained Bitcoin’s potential – just as the market begins to turn bullish.
Visit the Official Bitcoin Hyper Website Here
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