Zcash Falls 10.7% in 24 Hours as Price Drops to $1,356
ZEC was trading near $1,389 after briefly reaching $1,356. The token had nearly doubled in September before the sharp pullback.
Zcash (ZEC) fell 10.7% over 24 hours to briefly reach $1,356 on Tuesday, extending a sharp pullback after nearly doubling during September.
The token was trading near $1,389 after the decline. The move came as altcoins broadly weakened and traders took profits following ZEC’s strong monthly advance.
Estimated liquidation levels for leveraged long positions were concentrated near $1,359.45 and $1,357.59. The positions at those levels represented about $17.455 million and $2.631 million, respectively.
The price briefly moved below the higher threshold, while one long position worth about $1 million was estimated to have been affected. ZEC’s next market move will be watched around the nearby liquidation levels.
