ZEC extended its 24-hour decline to 10.7% on Sept. 29, briefly touching $1,356 before trading at $1,389, according to HTX market data cited by BlockBeats. The move came during a broad sell-off across altcoins. BlockBeats said profit-taking accelerated after ZEC had nearly doubled during September, while long positioning in the futures market remained elevated. TradingBeats data showed the token’s decline had moved past 10%, with nearby large long positions potentially breached. Among million-dollar positions, one long worth about $1 million was hit by the market move. The nearest long liquidation level stood at $1,359.45, corresponding to about $17.455 million in long positions. A lower estimated liquidation level at $1,357.59 was tied to another roughly $2.631 million in long exposure.
ZEC’s 24-hour loss widened to 10.7% on Sept. 29, briefly falling to $1,356 before rebounding to $1,389, according to HTX market data cited by BlockBeats.
BlockBeats said altcoins broadly moved lower on the day. After ZEC nearly doubled during September, profit-taking concentrated, while futures long positions remained at high levels.
TradingBeats monitoring showed ZEC’s decline had exceeded 10%, and nearby large long positions may already have been breached. Among positions worth around $1 million, one long of roughly $1 million was hit by the move.
The nearest long liquidation line was at $1,359.45, corresponding to about $17.455 million in long positions. Further down, another estimated liquidation line at $1,357.59 was linked to about $2.631 million in long exposure.
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