2025-12-05 11:51:20

#美SEC促进加密资产创新监管框架 ZEC's movement tonight is quite subtle. I just checked the latest data—the largest short position on Hyperliquid has just added another $1.72 million. Interestingly, the average short entry price has now been pushed up to $412, and the previously accumulated $3.3 million in unrealized profit has almost completely evaporated. What does this mean? Even the whales are struggling to hold on, and it's highly likely that the 410–412 range is heavily defended.

Currently, the price is stuck right at the critical $401.2 level.

Looking up, $426 is the first major resistance on any rebound. To the downside? $370 is the initial support. But the real battleground is at $401.2—there’s a huge order of 710 contracts sitting there, clearly indicating that the sellers don’t want the price to break through easily. The MACD has just formed a bullish crossover below the zero line, trading volume has suddenly surged, and there are slight signs of overbuying. Bulls and bears are fighting fiercely around this level.

My focus is on two price points: $401.2 and $412.

If the bulls are strong enough to absorb the selling pressure at $401.2 and hold above it, the next stop will be a direct run at $412—the break-even line for the shorts. If $412 is quickly broken, the resistance at $426 above will likely collapse rapidly, leading to panic short covering and an accelerated price rally.

But if the price keeps getting stuck around $401.2, or makes a false breakout and then reverses, be cautious. The probability of a pullback to test the $370 support will increase significantly, and the price may even look for lower levels of support.

This move is far from over. The technical and capital battles are just entering their most intense phase, and the next few hours of price action will be critical. Remember, don’t blindly chase pumps or panic sell. Learn to judge based on market signals, and you’ll have a better chance of surviving in this market. $ZEC $BTC

ZEC0.07%

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SandwichHunter

· 14h ago

The 1.72 million from the airdrop was added in, and the unrealized profit evaporated instantly. This is what happens when you get trapped. The whale is stubbornly holding down 710 contracts at 401.2, clearly scared and waiting for a rebound to cut losses. If this wave can truly hold above 412, then 426 really won't hold, and panic selling from shorts will be fierce. But I'm betting the rebound at 412 will fail and it'll drop straight to 370. What about you guys? Damn, I have to stare at the screen for the next few hours again, so tired.

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OldLeekNewSickle

· 12-05 12:41

The whales are desperately holding on to this narrative—it sounds more like they’re just trying to reassure themselves... That 710-lot large order at 401.2, is it really just about chip distribution or is it a signal for dumping on retail? For reference only. --- A floating profit of 3.3 million evaporated instantly. The shorts aren’t having an easy time either. This round of capital game feels like a meat grinder. --- You’re right, bro. If you don’t blindly chase, you’ll survive longer. But I’m still betting that 412 will break... Not investment advice. --- This is a classic tug-of-war between bulls and bears. Whoever holds more chips calls the shots. We retail investors can only watch the order book. --- MACD golden cross and surging volume—I’ve seen this combo too many times. It could reverse any second. --- If the 370 support really breaks, then we’ll have to look for the next level. Here’s a risk warning. --- Objectively speaking, calling 412 the short cost line is spot on. The question is whether it can reach there smoothly. --- Ha, even the whales are struggling? Then we retail traders are really on the edge of life and death... Continuing to observe.

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ChainMelonWatcher

· 12-05 12:21

The whale is still holding strong at 412. Is it really going to crash this time? --- If we can't break through 401.2, we'll have to look further down. --- All short sellers' floating profits have evaporated, haha. Serves them right, should've dumped on these guys earlier. --- Let's wait and see if it can break through 426, otherwise it's still destined to keep dropping. --- A large order of 710 contracts is pressing down, the bulls are in some real trouble this time. --- MACD golden cross in overbought territory, this signal is a bit ambiguous. --- Testing the support at 370, feels like there's still more room to fall below. --- These next few hours are definitely critical, just watching from the sidelines. --- Is 412 the cost line for the shorts? Then let's wait for them to panic and close their positions. --- I'm really worried this might be a fake-out. If BTC dives, ZEC won't be able to escape either.

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GasFeeLady

· 12-05 12:21

honestly, watching zec ping-pong between 401-412 rn is giving me major flashbacks to that brutal eth consolidation back in '22... the whale bleeding out 3.3m in unrealized gains? yeah, that's the kind of capitulation tell i've learned to sniff out. classic gauntlet squeeze setup tbh

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TokenStorm

· 12-05 12:20

The whale got trapped at 412, this is getting interesting... The real battlefield is at these few key levels, let's see who gives in first. The evaporation of floating profits for the shorts shows that the bulls aren't that weak, but that big order of 710 lots at 401.2 is pressing hard, clearly trying to block people. I'm betting on a quick breakout above 412; if that happens, the shorts will panic and run, and then 426 will collapse quickly... Of course, that's only if the bulls are aggressive enough. If it keeps seesawing back and forth, that's trouble. In that case, a pullback to 370 is highly likely, and the risk factor will double. The eye of the storm is in the next few hours, and the MACD golden cross with amplified volume is a pretty clear signal... But you know, the market loves to play against expectations. Don't ask how I know—when I went all-in yesterday, I already calculated the liquidation price. Now it's just a question of how long I can hold on.

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RugpullAlertOfficer

· 12-05 12:17

Damn, this airdrop is still holding on? Unrealized profits evaporated like this and still adding more, really not afraid of going bankrupt, huh. --- That 401 hurdle, damn, 710 lots on the sell wall just locked the bulls down. Let's see if the bulls have what it takes. --- If it quickly breaks 412, I'll get in; otherwise, I'll stay on the sidelines. Don't get tricked by a fake-out. --- MACD golden cross with volume increase? That's a strong signal, but if it's overbought, it's risky. Still need to be cautious. --- Honestly, this ZEC move is just a bull-bear showdown. Technicals and funds are at odds. The next few hours will decide everything. --- If the whales are still holding on, what does that mean? The bottom might not be that deep, but don't expect it to easily rise to 426 either. --- So many positions stacked up in the 410-412 range, it's either support or resistance. Just watching for now. --- Don't count on 370 anymore. Now it's all about whether 401 holds. If it does, there's hope. --- Every time the market looks like this, someone rushes in to chase highs and lows. Deserves to lose money. Learn what it means to read the market.

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RektRecorder

· 12-05 12:16

The whales are all crying, and us retail investors are still sleepwalking? 401 is ridiculously strong at this level. --- Short squeezes have nothing to do with us; surviving is more important than anything. --- Will 412 get taken out in a second, or is it just another fake-out? --- This tug-of-war feeling is the worst. Instead of staring at the screen, might as well take a walk. --- MACD golden cross + overbought volume, I’ve seen this combo before—never ends well. --- If 370 really breaks, the story after that won’t be a pleasant one. --- Another group waiting to catch the bottom at 370, only to see it crash straight to 300. --- With ZEC’s momentum, it feels like the bulls are bluffing too. --- If 401 doesn’t break, all technical analysis is useless. It all depends on whether it can break out. --- This endless back-and-forth is the most annoying; losing money isn’t as fun as we are.

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BridgeJumper

· 12-05 12:10

The whale is trapped at 412, all their unrealized gains have evaporated and they still dare to add more? That's pretty ruthless. --- 401.2 is a key level that needs to be broken, otherwise we'll have to look for a new bottom again. --- 710 lots of sell pressure aren't letting up, it's obvious someone is trying to prop up the price. This is even more intense than I expected. --- The moment the shorts panic and close their positions should be when it takes off, but the key is whether the bulls can hold on. --- These tug-of-war battles are the most annoying. There's a decent chance of a fake-out and reversal, so you really have to stick to your stop-loss. --- MACD golden cross plus increased volume looks pretty exciting, but you can't ignore the overbought signals either. --- 412 is the pain point for the bears. Once it's broken quickly, there's probably no stopping it after that. --- This ZEC move isn't complicated at all, just watch if 401.2 can hold. Everything else is noise. --- Remember not to blindly chase? Easier said than done—who hasn't gotten FOMO when the market moves? --- If the 370 support breaks, then we'll have to look for a new bottom. The worst is this kind of repeated testing of the support.

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