Zcash Soars 128%, But Technical Indicators Warn of Pullback

Zcash has experienced significant gains over the past month, rising by 128% and surpassing Dogecoin's market capitalization to claim the tenth spot.

The token also reached a multi-year high of $1,254 before pulling back, but trading volume remained high at approximately $1.6 billion, accounting for around 8% of its circulating market capitalization.

Strong derivatives positioning and expanding social interest suggest that Zcash's rally may still have room to continue, with the token emerging as one of the market's leading momentum trades.