Zcash (ZEC) is drawing trader attention after on-chain data highlighted a large cluster of leveraged long positions near the $860 price level, raising the possibility of a liquidation-driven volatility spike.
According to CoinGlass, a long liquidation cluster worth approximately $1.4 million is sitting near $860. With ZEC trading around $877, a move lower could put leveraged long holders under pressure. If the price approaches that zone, forced liquidations could amplify selling pressure and potentially accelerate a downside move. However, the presence of a liquidation cluster represents an area of potential market vulnerability rather than a confirmed price target.
Zcash has already fallen below the $1,000 mark during a weeklong selloff, with additional pressure coming from concerns over leadership turmoil at Nvidia Corp., which weighed on the artificial intelligence trade. Broader cryptocurrency weakness also coincided with strength in the U.S. dollar. On Friday, the dollar index reached its highest level since April 2025 after hotter-than-expected inflation raised expectations of further Federal Reserve tightening, pushing Treasury yields and the dollar higher while pulling down both cryptocurrencies and gold.
ZEC dropped to a low of $861 early in Saturday’s session, marking seven consecutive days of losses since November 7, 2026. If the day closes negative, it will be the eighth straight session of declines. Zcash lost momentum after falling below the 50-day moving average, a support level that had helped its price surge in August 2026; reclaiming that level is seen as important for recovery. On-chain data also shows large buy walls at $845, $811, and $805, which may act as key support levels if selling continues.
