Zcash Faces Potential Correction as Overbought Conditions Loom

The cryptocurrency Zcash (ZEC) has seen a remarkable surge in price over the past two months, surging by approximately 1,500% and reaching its highest point since January 2018 at $750. This impressive rise is partly attributed to endorsements from prominent figures in the cryptocurrency industry, including Naval Ravikant and Arthur Hayes. However, technical indicators suggest that ZEC is currently experiencing extreme overbought conditions, increasing the risk of a significant price correction in the coming weeks.