Garrett Jin: Adds $8.4M to ZEC Short Position

Garrett Jin entity doubled down on its ZEC short, adding 7,000 contracts at $1,195 in a single five-minute window and pushing the total position to 39,760 contracts worth $47 million.

The average entry has now climbed from $444 to $576.3, leaving the whale with $24 million in floating losses after ZEC rallied from the July lows near $400.

Price action on the 4h chart shows ZEC at $1,179.43 inside a bullish structure defined by EMA50 support at $981.9 and EMA200 at $755.35, while MACD registers a golden cross at 78.07; with price pressing the upper Bollinger Band at $1,266.41 and RSI(14) already at 70.91, a healthy retracement toward the 50-EMA appears probable before any continuation higher.