Zcash Shorts Hit 72 Percent As ZEC Holds Above $1,100

Zcash traders are showing a strong bearish bias right now. Short positions have climbed to make up 72 percent of the current market positioning for ZEC. Even with this heavy wave of bets against the coin, the price continues to hold firm above the $1,100 mark.

This unusual setup usually grabs the attention of the market. When traders lean this heavily in one direction, the risk of a sudden price spike goes up. Persistent buying is currently absorbing the selling pressure and keeping the price stable, which puts heavy pressure on those short positions.

Traders and market watchers should keep a close eye on the $1,100 level in the coming sessions. If buyers can push the price higher from here, it might force those trapped shorts to buy back their positions, which could trigger a fast rally across the order books.