Zcash tracks Bitcoin as liquidation risks build
Zcash is trading near $220, consolidating between key Fibonacci levels after pulling back from $275, with traders awaiting Bitcoin’s next move for direction.
The token’s correlation with Bitcoin has rebounded to 0.91, indicating ZEC is once again moving closely with BTC after briefly decoupling in March.
The setup leaves ZEC highly sensitive to Bitcoin’s trajectory, with a rally likely to lift prices and a decline expected to deepen downside pressure.
On-chain data shows a cluster of short liquidations between $241 and $260, with more than $15 million in leveraged positions at risk if price breaks higher.
At the same time, heavy long liquidation zones sit below $220, meaning a downside move could trigger rapid selling in a similar cascade.
Technically, resistance sits at $222, while a break above that level could push ZEC toward $245 and potentially $262 if short liquidations accelerate.
Zcash recently raised $25 million in seed funding, but near-term price direction remains tied to Bitcoin’s next move rather than fundamentals.
At the time of reporting, Zcash price was $216.58.
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.
You may also like
Dell executive: "Agent AI" is different this time, key components (mainly memory and HDD) shortages may last for more than 5 years
Dell Technologies Chief Operating Officer Jeff Clarke stated that proxy AI, by taking on more tasks, continues to drive up computing and storage demands, making this AI infrastructure cycle distinct from traditional hardware upgrade cycles. By 2030, data center computing power is expected to increase by 200 GW, inference token generation will grow 87-fold, and infrastructure demand is likely to continue expanding.
Morgan Stanley Backs Meta (META.US): Muse Ecosystem Continues to Expand, VR Glasses Expected to Become a New Growth Point in 2027
Morgan Stanley maintains an "Overweight" rating on Meta with a target price of $775, and continues to list it as a top pick.
Essay: The Next Step in AI Investment—Who Can Turn Computing Power into Profit?
Meta (META.US) surged 36% in September: Muse validates AI strategy, market cap targets $2 trillion
Meta's stock is on track to achieve its best monthly performance since July 2013, and is only about a 1% increase away from joining the $2 trillion market cap club.
Crypto prices
More
