ZEC: Garrett Jin Shorts Hit $25M Floating Loss

Garrett Jin entity added another 5,000 ZEC shorts at $1,252.5 last night, pushing total position to 37,760 contracts worth $50.99 million with $25.85 million in floating losses as ZEC climbed from $400 to near $1,400.

The move comes after ZEC posted a 12% daily gain, forcing the largest known short seller to defend an average entry of $665.8 while price action continues higher.

With price testing upper Bollinger resistance at $1,552.52 while RSI(14) flashes 78.83 overbought and MACD holds its golden cross, a healthy retracement to the EMA50 support at $1,217.64 appears probable before further continuation toward the $1,489.3 zone.