Zcash slips under $500 as bearish wedge signals 27% downside risk

Beincrypto reports Zcash (ZEC) has broken decisively below the $500 support, confirming a bearish ascending wedge and raising the prospect of a roughly 27% correction.

Derivatives data show concentrated long liquidations between the current price and the $430 level, which could trigger forced closures worth about $28.46 million; such unwindings often accelerate declines as leveraged positions flip bearish and short interest grows. At the same time, the Chaikin Money Flow indicator is forming a bullish divergence—CMF has posted higher lows while price made lower lows—suggesting larger holders may be accumulating despite the drop.

ZEC was trading near $453, down about 9% over the past 24 hours. A bullish path would see ZEC hold around $442, reclaim $500 and potentially test $550, while the technical projection from the pattern points to a move toward $363 if selling persists and the $403 support is breached. This analysis is for informational purposes only and should not be considered financial or investment advice.

Key Topics

Crypto, Zcash, Zec, Chaikin Money Flow, Liquidations, Derivatives