Zcash Price Holds Above $1,200 as Analysts Warn of Possible Correction

Zcash's price held above $1,200 on September 10 as it continued its rally that started seven days prior. The token had advanced from about $814 to a multi-year high near $1,257 during this period.

The daily Relative Strength Index (RSI) reached 75.72, keeping Zcash in overbought territory after its rapid breakout. Analysts identified the $1,000, $1,100 range as a possible base if the rally enters a correction.

A three-day sell signal was produced by the TD Sequential indicator on Zcash's three-day chart, with analyst Ali Martinez comparing it to a previous signal that preceded a 64% correction. Altcoin Sherpa maintained a longer-term bullish view but suggested that the current move would benefit from a period of consolidation.