Zcash News Update: The Privacy Dilemma of Zcash: Shielded Holdings and Major Investor's Short Position Hint at Potential Downturn
- Zcash (ZEC) faces downside risks after a short-lived rally to $601 following OKX's relisting, now retreating to $564 amid weak adoption metrics. - A major "Cool-headed Whale" reduced 2.6M ZEC short positions but retains $4.05M in unrealized losses, with liquidation risks above $684.55. - Privacy features obscure ZEC's real-world demand, as shielded pools hold 4M tokens while transparent transactions lag behind price gains. - Technical indicators show bearish divergence (RSI vs. MACD) and a potential doub
Zcash (ZEC) is currently under increasing downward pressure, as both technical patterns and blockchain data indicate a possible revisit of important support zones. The digital asset
A significant bearish factor is the activity of a well-known short-seller known as the "Cool-headed Whale," who
The privacy features of
Technical signals also indicate a possible pullback. On the weekly chart, Zcash is forming a double-top near its yearly high, while the RSI stays bullish but is lagging behind the MACD, which
To sum up, Zcash's short-term prospects remain uncertain. While the OKX relisting has improved liquidity, weak on-chain adoption and bearish whale positioning suggest a likely test of major support levels. Traders should keep an eye on the $564–$500 range, as a break below this could speed up a drop toward $400. At present, the market seems to be reacting more to supply constraints than to any fundamental increase in demand, leaving ZEC exposed to broader market downturns.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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