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Sharp pullback in ZEC triggers $28.37 million in liquidations over 24 hours

ZEC has retreated approximately 16% from its recent peak, resulting in $28.37 million in liquidations within 24 hours.

Long positions accounted for $23.75 million of the liquidations, meaning the downturn hit bullish trades the hardest.

The $1,050–$1,100 range has emerged as a key short-term support level for $ZEC . As ZEC pulled back roughly 16% from its recent high, selling pressure in the futures market intensified, triggering a strong wave of liquidations. Total ZEC-related liquidations reached $28.37 million over the last 24 hours; long positions accounted for $23.75 million of this total, while short positions made up $4.62 million.

Data indicates that investors betting on a continued rally found themselves on the wrong side of the trade during the sudden pullback. Selling pressure mounted as the price fell, with $11.49 million in liquidations recorded in just 12 hours—$9.40 million of which came from long positions.

Volatility was also evident across shorter timeframes. A total of $1.34 million in liquidations occurred within a four-hour window, with $1.19 million stemming from short positions. This scenario highlights how rapidly market sentiment can shift following a sharp rally.

The imbalance in ZEC liquidations revealed that long positions—opened in anticipation of further gains—came under heavy pressure during the sudden price drop. Bullish technical outlook remains intact

Despite sharp sell-offs, ZEC’s technical outlook presents a stronger picture compared to the period prior to the breakout. On the daily chart, the price continues to hold well above key moving averages: the 50-day average stands at $689, the 100-day average at $646, and the 20-day average at approximately $910, while the longer-term average hovers near $531.

Meanwhile, the significant gap between the current price and the trend indicators in question highlights the pace of the recent rally. ZEC surged from below $500 to over $1,200 within a few weeks. This strong momentum triggered both profit-taking and forced futures deleveraging.

The Relative Strength Index (RSI) has retreated from the overbought zone to around the 64 level. Although the indicator remains above the neutral threshold, it signals a loss of momentum compared to the previous period.

In the short term, the $1,050–$1,100 range is being monitored as a support zone. If ZEC holds above this band, a search for sideways equilibrium and a renewed attempt at recovery could follow. A decisive break below this area could deepen the pullback toward the moving average near $910.

The recent fluctuation resembles a corrective reset following a rapid surge; however, price action is likely to remain volatile until volatility subsides and buyers reclaim recent highs.

ZEC is known as a privacy-focused cryptocurrency. Recent price action has once again demonstrated how quickly the direction of leveraged trades can shift for such assets. Currently, market focus has shifted to whether the support zone will hold and the extent to which volatility will stabilize.
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