Post

The largest volume bar in 48 hours created a hole that has now been filled.


Yesterday at 23:00, $ZEC 3.3 million contracts were dumped to 1212.24.
It fell 10%, completing the move in 24 hours.
At midnight today, 2.15 million contracts had already pushed it back up to 1289.
At 8:00, it touched 1331 again, with volume down to just 1.21 million.
It took 3.3 million contracts to push it down, and 1.21 million to lift it. One-third the effort.
At 11:00 it turned lower, giving back 5.5% over six hours and bottoming out around 1258.
A full round trip in one day: the starting point was 1352.4, and it’s still below that now.
The funding rate is 0.01%, right at the baseline; neither longs nor shorts were forced to pay overnight fees.
This isn’t panic selling; someone is repeatedly trading back and forth within the same range.
The chart closed at 1258.31; it’s now at 1266.06, less than 1% away from 1274.87.
Only once it gets back above that level can we talk about recovery. I’m not buying in; I’ll wait for it to show its hand.
(Not investment advice; trade at your own risk)
View Original
post-image
This page contains third-party content and does not constitute any advice, nor does it represent Gate's endorsement of such views. For details, please see disclaimer.
ZECZEC+1.29%

  • 3

Add a comment
Add a comment

Comment 7
OnChainSleuth
I’ve marked three insider wallet addresses; they all made small moves six hours before this dump. Get used to it
SleepTrader
I placed a buy order at 1220 before bed. A notification popped up at 3 a.m.; I opened my eyes and saw it had been canceled again. Guess it wasn’t meant to be
MALoom
On the daily chart, EMA12 and EMA26 are just about to converge, while volume is shrinking even faster than the moving averages—this choppy market is almost out of thread
UncleWang
The 3.3 million dumped to 1212—this number reminds me of an early morning sometime before the uncle block reward adjustment in 2016, when mining pool hash rates were shifting back and forth. This turnover feels just like that
FundingRateFarmer
The funding rate is hovering at the 0.01% baseline, with neither longs nor shorts getting squeezed. As a farmer, I can only shake my head at this market—days with no funding fees to collect are the worst
AlgoTrader
The slippage model doesn't account for this kind of liquidity replenishment at one-third of volume, so backtests will be misleading
DepositTurtle
A complete round trip every day, with the start and end points nearly overlapping—this price action is even more boring than the daily fluctuations in yield on my Aave deposit; at least those numbers are moving to the right