ZEC is currently consolidating around $220, tightly constrained by key Fibonacci levels. Its correlation with Bitcoin has rebounded sharply to 0.91, once again becoming a driver of price movement. Liquidation pressure stems from both sides: leveraged short positions exceeding $15 million in the $241-$260 range, while substantial long liquidations exist below $220, suggesting a potential sharp breakout. If it breaks above $222, the target price could be $245; if it falls below $208, it could potentially drop to $196.

ZEC5.13%

BTC3.34%

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