Zcash Whale's Exit Sparks Fresh Downside Pressure on ZEC

Zcash has continued its downward trend after failing to rebound near $543. The token dropped as low as $440 before rising to $447, marking a 2.43% loss for the day and pushing below the $450 level.

A major whale, identified as Garret Jin, closed a profitable long position on Zcash, netting $417,000 in profit. This move has put pressure on the $400 support area, with short demand increasing and leaving it exposed if sellers maintain control.

Liquidation data from Coinglass shows over $17 million in long positions were wiped out over three days, including $6.5 million in the past 24 hours after ZEC fell below $450.