ZEC Whales Pull $46M From Exchanges Amid Price Surge
ZEC price has seen significant accumulation in recent times, with whales pulling out large amounts of funds from exchanges. According to data from @lookonchain, 32,293 ZEC worth $46.15 million was withdrawn from exchanges, led by t1UcyM's withdrawal of 15,860 ZEC ($22.69 million) from Binance.
This movement has sent the price of ZEC to a new level, with it currently trading at $1489.64 within its Bollinger Bands. The upper resistance is set at $1552.6, but the overbought RSI(14) and MACD golden cross suggest that there may be a retracement towards the 50-EMA support at $1217.65 before any further increase.
The broader bullish structure of ZEC price prediction models now takes into account these exchange outflows as key drivers, alongside other signals indicating resilience in the crypto market during times of crash.