Zcash (ZEC) has retreated from its recent peak above $1,600, the highest level since 2016, and is currently trading near $1,590. The privacy coin has gained 2,600% over the past year despite the pullback.
Analyst Crypto Patel flagged concerns about the asset's valuation, pointing to a cup-and-handle technical pattern and what he describes as extreme extension from a psychological perspective. Under a potential distribution and downtrend scenario, the analyst suggested ZEC could fall to $500, with further weakness toward $200 if the long-term structure reverses completely.
Bitcoin Shows Signs of Resilience
Bitcoin reached $87,000 at the start of the week before retreating to $84,600. Despite the recent decline, several factors suggest the uptrend may remain intact.
Large investors holding between 100 and 1,000 coins have accumulated nearly 114,000 Bitcoin since July 15, according to data from Santiment. Trader Ali Martinez reported these whales purchased over 30,000 BTC, worth more than $2.5 billion, within a 96-hour period.
Additional bullish indicators include declining exchange inflows, which reduce immediate selling pressure, and sustained institutional demand. Spot Bitcoin ETFs posted six consecutive days of inflows, attracting nearly $3 billion during that stretch.
Solana Climbs to Eight-Month High
Solana's native token (SOL) has surged 12% over the past week and is trading just below $120, marking its highest level in eight months. Analyst Ash Crypto cited multiple bullish technical signals, including the reclamation of the weekly 200-day moving average and a weekly golden cross formation.
Veteran trader Peter Brandt identified a cup-and-handle pattern on SOL's chart, typically associated with rallies. September has historically been a positive month for Solana, with gains recorded in five of the past six Septembers.
