Crypto
ZEC Trader Suffers $398K Loss as Price Hits New High
A high-profile ZEC trader, @XXAntiWar, has closed two short positions on Hyperliquid over three days, resulting in a $398,000 loss. This loss erased all gains made on the platform for an entire week, leaving @XXAntiWar with a net profit of $437,000 from eight September shorts.
The ZEC price currently stands at $1482.57, pushing against the upper Bollinger Band resistance at $1551.1. The RSI(14) is also overbought at 78.46, suggesting a potential pullback towards the EMA50 support at $1217.38.
The trader's decision to close positions may have been influenced by the MACD's bullish golden cross above the EMA200 floor at $947.27, indicating a continued upward trend in ZEC prices.