$ZEC Today, while watching the market, I noticed an interesting phenomenon: the big short on Hyperliquid has taken action again.
This time, they directly invested an additional $1.72 million, but the problem arose— their paper profit shrank from $3.3 million to just $300,000. Clearly, this rebound of ZEC has exceeded expectations, and the short pressure is evident.
However, this individual did not give up and close their position; instead, they continued to short. What does this operation indicate? Either they are extremely bearish on the future market, or they are too deep in losses to back out.
From a technical perspective, ZEC's hourly chart is indeed in a downtrend channel, but the MACD fast and slow lines show signs of a golden cross below the zero axis— this usually means there will be a technical rebound in the short term.
My view is:
Tonight, there will be a pull-up first, but don’t rush to chase. The rebound height is unlikely to reach 548, and even 450 could be a hurdle. After that, it is very likely to turn downwards, as the big short needs to continue positioning at relatively high levels to expand profit margins in the subsequent decline.
