Zcash at crossroads as exchange balances rise; $405 and $504 levels key

Beincrypto reports Zcash (ZEC) has entered a quieter phase, consolidating inside a symmetrical triangle as volatility compresses and traders await a decisive breakout.

On-chain data from Nansen shows a 16% increase in ZEC balances on centralized exchanges in the last 24 hours, a trend that typically signals intent to sell and adds selling pressure during consolidation. The liquidation map from Coinglass highlights roughly $48 million of short exposure near $500 versus about $25 million of long exposure clustered near $357, leaving long traders more immediately exposed while limiting downside acceleration for shorts for now.

The triangle pattern implies a sharp move is likely as price approaches the apex. Current conditions lean toward downside: a breakdown below $405 could push ZEC toward $340 and trigger long liquidations, potentially dragging price toward $300. Conversely, a clean breakout above the triangle’s upper boundary near $504 would invalidate the bearish setup and could force short liquidations, potentially unlocking a move toward $600. This price analysis article is for informational purposes only and should not be considered financial or investment advice.

Key Topics

Crypto, Zcash, Nansen, Coinglass, Centralized Exchanges, Liquidations