Zcash’s (ZEC) Major Uptrend, Recent Cardano (ADA) Predictions, and More: Bits Recap September 11

The privacy coin ZEC has stunned the crypto world lately, after briefly rising to a ten-year high of almost $1,300. However, bears stepped in and erased much of the gains, and it remains unclear whether the rally will resume.

Cardano’s ADA has been the subject of optimistic price forecasts, while Ethereum (ETH) appears to be at a crossroads.

What Now for ZEC?

The token has been crypto’s top performer over the past few weeks, with its price skyrocketing by 130% in a month and its market capitalization temporarily surging past $20 billion. Potential catalysts include the launch of Grayscale’s ZEC ETF, along with other factors we covered in our article here.

However, bears eventually halted the upswing, and three key developments suggest a more substantial pullback may be on the horizon. According to Ali Martinez, one of those is the TD Sequential indicator, which flashed a sell signal on the 3-day chart.

“The last time this setup appeared, on May 19, it resulted in a 64% price correction. Worth paying attention to this one,” he noted.

Other factors include ZEC’s RSI soaring above 70 and entering bearish territory and the shift from self-custody methods to centralized platforms, which increases immediate selling pressure.

Zcash is, in fact, the worst-performing top 100 cryptocurrency today (September 11), after posting an 8.5% loss. Still, it remains among the 10 biggest digital assets.

ADA Predictions

Cardano’s native token is up 12% on a monthly scale and continues to trade above the psychological $0.20 mark. Not long ago, X user Sssebi saw a “big chance” for a pump to $0.30 if the price reclaims $0.25. Before that, Martinez said the asset’s Tom DeMark Sequential indicator flashed a buy signal.

Other market observers who recently commented on the asset include X user Cup and Alex Marzell. The former argued that “the biggest altseason ever is about to start,” forecasting a potential price explosion to an all-time high of $8 for ADA. Marzell was not so optimistic, outlining $0.2051 as “the shelf the whole run started from.”

“Lose it, and there’s not much underneath,” he added.

ETH at a Turning Point

The second-largest cryptocurrency has been hovering around $2,500 for the past several days, currently trading slightly below that level. According to Ted, a strong weekly close above $2,550 could fuel a rally to $3,000, while Michael van de Poppe claimed that breaking above $2,520 could lead to the same outcome.

Earlier this month, Martinez disclosed that 116,000 ETH (worth nearly $300 million) were withdrawn from centralized platforms in 48 hours, which supports the bullish scenario.

On the other hand, some analysts believe the price must first head south before starting a new bull run. X user Gerla, for instance, noted the formation of an inverted head-and-shoulders pattern and expects a potential drop to $2,000, followed by a big jump toward $4,000 in the coming months.