Zcash's Meteoric Rise May End with a Crash

Zcash (ZEC) has been on an incredible run lately, skyrocketing to a ten-year high above $1,200. However, some worrying signals suggest that a short-term pullback may be looming.

The TD Sequential indicator has flashed a sell signal on the 3-day chart, which has previously been a precursor to a 64% price drop. According to analyst Ali Martinez, 'The last time this setup appeared, on May 19, it resulted in a 64% price correction. Worth paying attention to this one.'

Additionally, ZEC's Relative Strength Index (RSI) has surged past 70, indicating that the token has entered overbought territory and could be gearing up for a pullback.

Lastly, investors have been shifting from self-custody to crypto exchanges, which is interpreted as bearish because it increases immediate selling pressure.