Zcash (ZEC) Price Warning? Long Liquidation Cluster Sits at $860

A large cluster of leveraged long positions around the $860 price level has traders on guard for a possible liquidation event that may result in increased volatility for Zcash (ZEC) . A liquidation cluster is an area where many leveraged positions could be liquidated if the price of the asset moves against the traders. CoinGlass data shows a long liquidation cluster worth $1.4 million is near $860. Zcash is currently trading at $877, and a move lower to $860 could put long-position holders under liquidation pressure. If ZEC approaches this level, forced liquidations could add to the selling pressure and possibly accelerate a move to the downside. Liquidations occur when traders who have borrowed or leveraged money are unable to maintain margin on their positions.

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