Breaking! The giant whale is stuck at the 370-420 life-and-death line, it's targeting you tonight!

One candlestick, one story, but this time the candlestick is trapping a whale worth tens of millions. This morning, a piece of news exploded in the circle: "The largest short position on ZEC on Hyperliquid is once again facing a loss."

But the price of ZEC has stubbornly risen, and he is now at a loss of 1.4 million dollars, equivalent to a Rolls Royce Phantom being thrown into the sea.

News: The whale's predicament

The largest short position on ZEC in the market is trapped.

He previously increased his short position, and now with the price rebound, he has lost 1.4 million dollars and has to cut losses on part of his position. But he still holds a short position of 25.7 million dollars, like a bomb that could explode at any moment.

The key is that his liquidation price is 886 dollars, which is still far from the current price. This indicates that he hasn't reached a dead end and still has capital to resist. This whale is not a small fry; he is simultaneously short on ETH and MON, and making a substantial profit. He is not a fool; he just misjudged the situation on ZEC temporarily.

This information is both an opportunity and a trap for retail investors. The whale being trapped can either be a contrarian indicator or “bullish fuel,” and once he is forced to close his position, it will instantly push the price up.

Technical Analysis: Conflicting Signals

Now let’s take a look at the one-hour candlestick chart, which is full of market lies.

The current price is around 396, with strong resistance at 420 above and a key level at 370 below, and further down is the support at 320. The current trend is downward, but the MACD is forming a golden cross above the zero line.

Personal Opinion by Qi He: There is a short-term demand and momentum to rebound to 420, but if there is no strong volume breakout and stabilization at 420, it is very likely to turn down again after the rebound, testing 370.

The probability of directly going to 320 tonight is low, unless there is a sudden major negative news.

Follow Qi He, I will analyze the next moves of the whale for you at the first moment the market starts! We not only need to see the story, but also become participants in the story.

Follow Qi He, + chat room to help you avoid pitfalls, analyzing the subsequent capital movements at the first moment, and seize every money-making window! #加密市场观察 $ZEC