Zcash nearly doubled, but a $44M liquidation trap could send ZEC 20% lower

• —ZEC fell below $1,488, wiping out over $12 million in long liquidations
• —About $44.39 million in long liquidations sits below $1,488, with $1.62 million at that level
• —Bearish RSI divergence forms as ZEC faces resistance at $1,700–$1,750
• —Downside target of $1,220–$1,300 implies a roughly 20% drop from $1,522