ZEC: Garret Jin Shorts Deliver $16.48M Profit

ZEC plunged 43% over the past day to $317.12, erasing nearly two months of prior gains and leaving Garret Jin with a $16.48M unrealized profit on his $19.45M Hyperliquid short.

The position, entered at $626.47, now shows a 137.8% return and ranks as the top profit account for ZEC shorts on the platform, nearly offsetting his separate $18.14M loss on BTC longs.

Price action on the 4h chart sits deep in bearish territory with EMA50 at $550.2 and EMA200 at $522.78 acting as firm resistance overhead while RSI at 18.4 signals extreme oversold conditions and MACD prints a clear death cross at -36.6; the move has already sliced through the lower Bollinger Band support near $399.08, suggesting further downside pressure until a relief bounce tests the $399 zone before any sustainable recovery attempt.