Since December 25, #ZEC下跌巨鲸做空 $ZEC 2025, ZEC prices have continued to weaken, with a significant whale actively shorting on December 15. This, combined with a bearish technical outlook, has further intensified its downward trend. The specifics are as follows:
1. Large whales opening short positions pressure prices: On December 15, on-chain monitoring showed that a whale deposited $2.46 million USDC into the HyperLiquid platform and opened a ZEC short position with 3x leverage. Prior to this, on December 1, when the ZEC price fell below $370, the market had already seen short positions surge to 45%, with 13 out of 20 large holders choosing to short. This additional shorting by the whale undoubtedly brought new downward pressure on ZEC prices.
2. Technical indicators show multiple bearish signals: From the trend, ZEC is currently near the support trend line of an ascending parallel channel. There has been a previous instance of a significant drop after breaking the channel support line, and there are signs that this pattern may repeat. Additionally, technical indicators are not optimistic, with the Relative Strength Index below 50 and the MACD indicator showing a bearish crossover. All these signals suggest that ZEC is likely to continue falling, potentially breaking below the $300 mark.
3. Previous significant decline with weak rebound: Before the whale shorted on December 15, ZEC had already experienced a significant drop, with a decline of 35.93% within the week leading up to December 1. Although there was a subsequent rebound of about 40%, recent influences from Bitcoin's performance and other factors have resulted in insufficient rebound momentum, facing a key resistance level at $442, making it difficult to maintain an upward trend. This weak market condition also provided an opportunity for whales to short.
