{"id":20654,"date":"2025-11-04T14:03:43","date_gmt":"2025-11-04T14:03:43","guid":{"rendered":"https:\/\/investx.fr\/en\/?p=20654"},"modified":"2025-11-04T14:03:45","modified_gmt":"2025-11-04T14:03:45","slug":"can-zcash-zec-target-594-despite-the-crypto-market-crash","status":"publish","type":"post","link":"https:\/\/investx.fr\/en\/crypto-news\/can-zcash-zec-target-594-despite-the-crypto-market-crash\/","title":{"rendered":"Can Zcash (ZEC) Target $594 Despite the Crypto Market Crash?"},"content":{"rendered":"\n

Zcash Delivers Exceptional Performance in a Weakened Market<\/h2>\n\n\n\n

Zcash<\/strong> continues to defy market gravity while most altcoins struggle to maintain their support levels. ZEC has surged by over 17% in 24 hours<\/strong>, confirming its position as a leader among privacy-focused cryptocurrencies<\/a>. This bullish momentum originates from the breakout of a bullish flag pattern validated on October 24, a technical formation that has propelled the price from one support level to another.<\/p>\n\n\n

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\"Zcash
Source: TradingView<\/figcaption><\/figure>\n<\/div>\n\n\n

Since this decisive breakout, ZEC has consistently reached its successive price targets, recently crossing the psychological barrier of $438<\/strong>. Technical analysts are now positioning their next major target at $594<\/strong>, with extended projections suggesting even higher potential according to Fibonacci extensions applied to the current movement.<\/p>\n\n\n\n

However, this meteoric rise<\/strong> doesn’t come without risks. Technical indicators are beginning to emit warning signals that could signal a first serious test for the bulls. The question is no longer whether a correction<\/strong> will occur, but rather when and with what magnitude.<\/p>\n\n\n\n

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Overheated Derivatives Threatening Rally Stability<\/h2>\n\n\n\n

On-chain data analysis reveals a concerning accumulation of leveraged positions. The open interest on Zcash futures<\/strong> has reached $337 million<\/strong>, an unmatched peak in six months that equals last October’s high. This massive concentration of derivative contracts demonstrates traders’ aggressive engagement, with positions predominantly biased to the upside.<\/p>\n\n\n\n

On Binance<\/a> alone, long positions exposed to liquidation total $30.27 million<\/strong>, nearly triple the short positions established at $12.43 million<\/strong>. This stark imbalance indicates that most shorts have already been liquidated during the uptrend, leaving the market dangerously skewed toward longs.<\/p>\n\n\n

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\"A
Source: Coinglass<\/figcaption><\/figure>\n<\/div>\n\n\n

This type of configuration makes the rally particularly vulnerable<\/strong> to technical corrections. Even a modest pullback could trigger a domino effect of long liquidations, mechanically amplifying the decline. If ZEC slips below $450<\/strong>, a cascade of liquidations could be triggered. More critically, a fall below $342<\/strong>, corresponding to a key Fibonacci retracement level, would activate all long liquidations positioned on the 7-day timeframe, potentially causing a violent purge<\/strong> of the derivatives market.<\/p>\n\n\n\n

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