ZEC: 43% Drop Hands Garret Jin $16.48M Profit

ZEC cratered 43% in 24 hours, erasing nearly two months of gains and handing Garret Jin a 137.8% return on his $19.45 million Hyperliquid short.

Entered at $626.47, the position now shows $16.48 million in unrealized profit at $327.59, nearly offsetting his $18.14 million floating loss on the BTC long.

Price action on the 4h chart sits deep in bearish territory with EMA50 at $549.3 and EMA200 at $522.55 acting as firm overhead resistance; the MACD death cross at -38.44 confirms trend strength remains negative while RSI at 17.32 signals extreme oversold conditions. With price testing lower Bollinger support near $390.32, any bounce attempt faces immediate confluence resistance from the 50-EMA before fresh downside continuation becomes likely.