Four reasons zcash’s rising price is poised for a downturn

Zcash has surged from under $50 to over $475 since October, driven by Grayscale’s new Zcash Trust and becoming one of crypto’s top performers. However, technical indicators suggest a potential downturn. The Wyckoff Theory indicates the token may be entering a distribution phase, leading to a price drop. ZEC is overbought, with the RSI at 80 and a rising wedge pattern forming. Mean reversion risks are high as the price deviates from key moving averages. Additionally, record-high open interest and negative funding rates in futures markets point to an impending correction.