finbold.com
The cryptocurrency market is currently consolidating, but several assets are witnessing increased buying pressure, pushing them into overbought territory.
Notably, analysis of on-chain data indicates that these assets are primarily within the privacy-focused sector.
Despite the momentum, the overbought condition suggests that traders may need to wait on the sidelines, as such moves could trigger a price correction.
Zcash ($ZEC)
Zcash ($ZEC) has been one of the strongest-performing privacy coins in recent weeks, but its technical indicators now signal caution.
As of press time, $ZEC was trading around $417, down 0.09% in the last 24 hours and 3.51% over the past week, suggesting that short-term momentum may be cooling.
The Relative Strength Index (RSI), which measures market momentum, shows $ZEC nearing 70, typically considered overbought.
According to the latest RSI data, $ZEC’s 15-minute RSI sits at 51.39, one-hour at 53.09, four-hour at 61.98, 12-hour at 72.51, and 24-hour at 77.07, placing it solidly in the overbought zone across longer time frames.
Dash ($DASH)
On the other hand, Dash ($DASH) IS displaying an even more aggressive overbought profile. The token is trading at $89.78, up 1.05% in the past 24 hours and an impressive 30.53% for the week, reflecting strong speculative buying.
The RSI readings highlight this momentum: 15-minute at 63.06, one-hour at 78.76, four-hour at 91.45, 12-hour at 83.59, and 24-hour at 82.57, all deeply overbought.
Such elevated RSI levels suggest that $DASH has entered an overheated zone where prices have surged much faster than underlying fundamentals can justify.
Just like $ZEC, the coin’s sharp rally follows renewed attention on privacy assets and a technical breakout above key resistance, but the probability of a pullback or consolidation phase is high.
Despite these recent gains, $DASH faces structural challenges, particularly from tightening global regulations on privacy coins, which could impact liquidity and exchange access.
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