Zcash (ZEC) is trading around $1,124 after reaching approximately $1,250, representing a roughly 50% gain from the $800 level recorded just a few sessions ago. Two technical indicators are warning of a significant correction risk: a bearish RSI divergence, with the momentum indicator reaching a higher peak during the August rally despite a higher current price, and a substantial gap between the price and its moving averages, with the price still 33% above the 20-day moving average currently near $847. Key support zones to watch are between $1,040 and $1,080, then at $950, and finally in the previous consolidation zone between $800 and $850. The uptrend remains intact, but momentum could weaken if buying does not resume more aggressively.
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