Zama's ZAMA token extended a sharp rally, gaining 17% in a day and 117% over seven days, as exchange withdrawals and rising perpetual-market activity signaled fresh accumulation. Liquidation clusters sitting below the current price, however, could still interrupt the climb.
Zama's ZAMA gained 17% over the past day and 117% across seven days. Fresh capital flowed into both spot and perpetual markets, giving the move support beyond price momentum alone, though liquidation clusters below the market could still interrupt the climb.
Exchange withdrawals point to accumulation
Investors pulled roughly $31.66 million worth of ZAMA off exchanges over 24 hours. Spot netflow fell to negative $2.45 million, confirming that withdrawals outpaced deposits and reduced the amount of ZAMA immediately available for sale.
Similar negative netflows appeared across several timeframes, so the accumulation was not limited to one interval. At the same time, traders kept adding using leverage in the perpetual market, and ZAMA's open interest crossed $52 million during the early hours, rising alongside price. Together, falling spot netflows and climbing open interest pointed to participation on both sides of the market.
Liquidation clusters sit below the price
However, the liquidation heatmap complicated that bullish picture. Several unresolved clusters sat below ZAMA's price, creating liquidity zones that could attract a pullback.
Near $0.073, the map showed roughly $247,510 in liquidation liquidity. Another $216,090 cluster appeared around $0.071, with further pockets extending the potential downside path. These clusters do not guarantee a decline, but they could pull price lower before another rally attempt.
Funding rate stays modest despite the rally
Even so, derivatives positioning had not turned excessively aggressive. The funding rate held at 0.0044%, meaning longs paid shorts while bullish positioning remained dominant.
Because the reading stayed modest, traders appeared to be adding exposure without crowding the trade. If accumulation and controlled leverage continue, ZAMA could extend its rally despite intermittent pullbacks, though its next test may come from liquidity sitting below rather than resistance above.
Source: AMBCrypto
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