Il Capo Sees Short-Term Drop for Surging Zcash Amid Cryptocurrency Market Volatility

Il Capo, a well-known cryptocurrency analyst, has shifted his stance on Zcash (ZEC). The asset had recently experienced a significant surge in price, with its value increasing by 25% in just one week.

ZEC's current trading price stands at $1,006. According to Il Capo, the asset found support around $200-300 in February-March and eventually reached its $1,000 target.

However, the analyst now expects a local peak and pullback for Zcash in the short term. This prediction is based on the asset's previous price action, with Il Capo suggesting that a similar process may occur for the overall cryptocurrency market.