ZEC: Surges Past $1200 as Shorts Lose $25.7M

ZEC has powered above $1200 after a three-month climb from the $400 zone, handing the largest short position holder a $25.7 million floating loss on the 32,760 ZEC short opened at $444 in early July.

The same entity holds a $107 million BTC long showing $4.42 million in profit, yet has paid $2.05 million in funding fees.

Price action on the 4h chart shows ZEC pressing the upper Bollinger Band at $1252.8 with RSI at 80.5 already overbought and MACD confirming the bullish golden cross; a measured pullback toward the EMA50 support at $966.17 offers the next logical confluence zone before any extension higher.