Zcash Price Breaks $1,500 as Short Sellers Face Heavy Losses

Key Insights:

• Zcash (ZEC) price defies bearish signals, extending into price discovery above $1500.
• ZEC Short liquidations pile up as the bullish onslaught continues, and open interest clocks in at $3.47 billion.
• Prolific trader among the shorts who have taken on massive losses betting against the privacy coin.

Zcash price just pulled off a new all-time high (ATH), marking a major milestone for the crypto. This is despite previously demonstrating signs of a potential pullback, as the bulls continue with the relentless charge.

Zcash price surged past $1500 for the first time in history, while achieving a new ATH of $1535 on Friday morning. The overall crypto market had priced in a rate hike and consequently reacted with a slight recovery in the second half of the week.

ZEC crypto appears to have capitalized on the crypto market recovery. Zcash price action outdid most top coins, including Bitcoin and Ethereum, with fresh momentum propelling it aggressively into price discovery.

ZEC price had previously hinted that the momentum was cooling off. The privacy coin previously formed bearish divergence with its RSI. The surprise uptick had noteworthy consequences.

Bullish Zcash (ZEC) Price Triggers Spike in Liquidations