ZEC Whales Spend $9M+ in ETH to Acquire $11M Worth of Tokens
A large transaction involving three wallets possibly controlled by one entity has taken place on the ZEC network. The wallets spent a total of 3700 ETH, valued at approximately $9.23 million, and 2M USDC to acquire 8994 ZEC tokens, worth around $11.23 million.
This significant purchase is seen as an example of whale accumulation patterns that some price prediction models use to inform their forecasts.
The current market price of ZEC sits at $1243.78 on the 4-hour chart, which is near the upper Bollinger Band resistance of $1245.72. The Relative Strength Index (RSI) is at 68.83, indicating a neutral reading, while the Moving Average Convergence Divergence (MACD) shows a death cross, suggesting that a measured pullback to the EMA50 support level at $1055.91 may occur before any further price increase.