Double Zero’s 2Z token dropped over 12% following a major liquidity shift that sparked broad capitulation. Technical indicators remain bearish, with a MACD death cross and weak RSI pointing to continued downside pressure. Traders have faced significant losses, but data from CoinGlass shows spot market accumulation and a long bias in derivatives, hinting at potential support near the $0.114–$0.118 zone.
The altcoin Double Zero moved decisively lower after a major liquidity shift triggered broad capitulation. At press time, 2Z was down over 12% with rebound prospects appearing muted as momentum remained notably weak.
The chart showed an absence of immediate support levels, though a lower ascending support structure aligns with a demand zone between $0.114 and $0.118. A rebound from this zone toward the $0.15 level would represent a potential 28% upside.
Trader confidence remained fragile, with long-positioned traders incurring losses exceeding $719,700 in 24 hours, compared to just $2,400 for short sellers. Technical indicators argued against aggressive accumulation at current levels.
The Moving Average Convergence Divergence remained firmly bearish after printing a classic “death cross.” This pattern forms when the MACD line crosses below the signal line and is often associated with prolonged downside pressure.
The Relative Strength Index reinforced this bearish setup, slipping into the bearish zone and printing a reading of 46. If both indicators remain under pressure, 2Z could face deeper losses in the near term.
Spot market activity showed modest signs of accumulation over the past two weeks. According to CoinGlass Spot Netflow data, total spot purchases amounted to approximately $874,400.
Sentiment in the perpetual market continued to hint at a potential rebound near the identified support zone. The Long-to-Short Ratio stood at 1.043, while the Open Interest–Weighted Funding Rate was a positive 0.0019%.
