Zcash Price Hits $792 Amid Bearish Head-and-Shoulders Setup

Zcash (ZEC) has seen its price push to $792 after gaining 40% in the past week and 68% over the past month.

The asset is currently trading around $792.25 with a 24-hour trading volume of $1.081 billion, but sellers are temporarily controlling the price action.

A potential head-and-shoulders formation is visible on the charts, with the right shoulder forming in the $820-$830 area and the neckline near $750.

If the price breaks below the neckline, it could confirm the bearish pattern and potentially expose the $600 area as the next downside target.