ZORA’s price performance has taken a bearish turn in the past 24 hours, slipping further from its new all-time high of $0.105.
The downturn follows a reduction in whale activity and a modest rise in exchange inflows, signaling the start of a profit-taking cycle.
ZORA Whales Exit as Token Nears Peak — Is a Correction Coming?
Data from Nansen reveals a sharp decline in ZORA’s large holder activity over the past 24 hours.
According to the on-chain data provider, the balance held by high-value wallets—those holding over $1 million worth of ZORA—has dropped by nearly 11% in a single day, signaling a notable shift among key stakeholders.
For token TA and market updates: Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.
The sudden pullback comes after ZORA’s rally to its all-time high of $0.105. With rising market volatility and uncertainty creeping into the broader altcoin space, whales appear to be trimming their exposure while the token’s price remains high.
This wave of profit-taking from whales could also set off a domino effect among retail traders. With confidence in the short-term trend weakening, smaller holders may be inclined to follow suit, worsening the downward pressure on ZORA’s price.
Furthermore, ZORA has noted a modest 0.36% uptick in its holdings across exchanges over the past day. This suggests a rise in the number of tokens sent to trading platforms since ZORA recorded an all-time high.
ZORA Exchange Activity. Source: Nansen
When an asset’s exchange inflow spikes, it is often a sign that holders are preparing to sell. The rising inflow combined with the dip in whale activity and declining buy-side momentum adds to bearish pressure, increasing the likelihood of a ZORA price correction in the short term.
ZORA Weakens as Sellers Take the Lead
From a technical perspective, ZORA’s Balance of Power (BoP) indicator is negative at press time, highlighting the clear decline in buying pressure. At press time, the momentum indicator, which measures buying and selling pressures, is at -0.76
This suggests that the bulls are losing control, and sellers are beginning to dictate market direction.
If this continues, ZORA’s price could plummet to $0.068.
On the other hand, a rise in buy-side strength could trigger a breach of the resistance at $0.084 and a rally back to $0.105.
Coinbase
eToro
eToro
eToro
eToro
COCA wallet
UpHold
Moonacy
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
