According to CoinMeta, the price target for Zcash ( ZEC ) is set at $840 due to the ongoing bull market trend. The price of ZEC recovered from a mid-week decline and returned above $800, with buyers defending the overall upward trend. However, overbought conditions, weak capital flows, and a long-term bearish divergence increase the risk of another correction. On August 26, the price of ZEC opened at $767.91, and due to inflation data in the United States exceeding expectations, the price fell to $760.30 for a brief period. Subsequently, the price of ZEC rebounded above $800 and traded around $807 on August 28, representing an increase of about 6% from the opening level on Wednesday. This rebound followed a rise for ZEC from below $500 in mid-August to near an eight-year high of $880. The 4-hour chart shows that a strong upward movement began on August 19 when the token broke through the long-term consolidation range of $480 to $520. ZEC is currently in a wide consolidation range of $760 to $850, and the decline on August 26 did not break this recent structure, as buyers returned near the lower end of that range.