Zcash price could be ready for a decline, Wyckoff Theory indicates

Zcash price surged on October 15 as investors capitalized on recent dips, extending the ongoing bull run. The rally was supported by increased assets in the Grayscale ZEC Fund and a record rise in shielded ZEC tokens, now accounting for 27% of the supply and valued at over $1.17 billion. ZEC reached $265, marking a 25% weekly gain and a 680% increase from September lows, boosting other privacy coins like Dash and Monero. However, technical analysis suggests a potential downturn, with ZEC forming a double-bottom pattern and indicators like the RSI signaling overbought conditions. A drop to the $125 support level is possible if the downtrend resumes.