ZEC Whale’s $31M Gamble: Will Zcash Leap to $439 or Crash?

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Zcash [ZEC] has wandered through a somber week, its structure weakened by leadership trials. Over this time, Zcash has dropped from a local high of $528 to a low of $400, reflecting strong bearish pressure. 🐟💸

At the time of writing, ZEC hovers at $402, its daily chart a modest 1.21% descent. Yet, in this market’s twilight, whales found their perfect hunting ground. 🦅✨

Zcash whale adds $13M in ZEC

After ZEC plunged to a low of $361 a week ago, whale activity collapsed alongside it. Thus, whales pulled capital, reduced exposure, and started selling. 🧨

At press time, the Whale Hunter Indicator on TradingView revealed a 10.24% bearish tide, yet whales began to rise like phoenixes from the ashes. 🦅🔥

Shortly after, large entities rushed back into the market and attempted to defend higher levels. As such, the whale momentum index rebounded from 416 to 529, suggesting a whale comeback in the market. 🌊

Amid this shift, on-chain monitors observed one major whale purchase. According to Onchain Lens, a newly created wallet withdrew 76,661 ZEC, worth $31.65 million, from Binance. 🏦💰

Such a massive accumulation during a period of market conviction showed whales jumping to accumulate ZEC at a discount. 🤝

Furthermore, exchange activities further echoed this rising whale demand in the market. According to CoinGlass, Zcash’s Spot Netflow has been negative for five consecutive days, suggesting increased dip-buying. 📉

At press time, Spot Netflow was -$4.35 million, reflecting higher outflows, a clear sign of aggressive spot accumulation. 🧠

Thus, investors defied the market trend and bought ZEC in silence, which explains the recovery from the $361 dip earlier in the week. Often, increased accumulation accelerates upward momentum, a prelude to higher prices. 🚀

Can whale buys help struggling ZEC?

In past instances, Zcash gained significantly when whales increased demand but slipped whenever they sold. 🐍

This time, however, recent whale purchases have not boosted ZEC’s price. Instead, the altcoin fell from $411 to a low of $411, highlighting ongoing structural weakness. 🤯

In fact, the altcoin’s Stochastic RSI made a bearish crossover and dropped to 41, at press time, edging into the bearish zone. 🐉

At the same time, ZEC slipped below its short-term moving averages, the 20- and 50-day EMAs further validating bearish pressure. 📈📉

Such market conditions leave Zcash in a risky position for more losses despite whale accumulation. Thus, if the current trend persists, ZEC will breach the $400 support level, heading towards $392. 🚨

Conversely, if whale accumulation translates positively, it could boost the altcoin’s upside momentum and potentially flip EMA50 at $439. 🌈

Final Thoughts

  • Zcash whale wallet purchased 76,661 ZEC tokens worth $31.65 million. 🐟💸
  • ZEC continues to face bearish pressure and risks a dip back below $400. 🐍

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2026-01-18 02:40