Crypto
ZEC Whale Amasses $20M as Price Action Points to Potential Support Test
A significant increase in ZEC wallet activity has been observed over the past month, with one whale accumulating $20 million worth of the asset.
The wallet in question pulled another 2.64K ZEC (~$3.72M) from Binance just two hours ago, bringing its total accumulation to 14.19K ZEC (~$20M) across both Binance and Gate.
The price action on the 4h chart shows ZEC trading at $1393.44, maintaining support above the EMA200 level at $1228.3 but remaining below the EMA50 resistance at $1493.41.
A bearish momentum indicator, the MACD death cross, is locked in at -44.07, while the Relative Strength Index (RSI) holds steady at 38.24, keeping conditions neutral.