ZEC: Trader 0x8742 Down $2.8M on 10x Long

Lookonchain flagged that trader 0x8742 opened a 10x long on 18,000 ZEC for $17.63M and now trails by more than $2.8M after price sliced below $1,000.

The position faces liquidation at $895.46. ZEC trades at $971.78 on the 4h chart inside a bearish structure with EMA50 at $1,194.66 and EMA200 at $1,261.3 acting as overhead resistance. RSI(14) at 19.79 signals deep oversold conditions while MACD prints a death cross at -67.58. Price sits inside the Bollinger Bands with lower support at $964.25 and upper resistance at $1,347.64, so any bounce off the lower band risks a quick retest of the 50-EMA before the next leg lower.