The Privacy Giant Wakes Up: Is ZCASH
Set for a Blow-Up?
🚀 Market Update
There has been a phenomenal 24-hour rise in the value of Zcash ($ZEC ) by 15.2% to sell at $1,316.41. The pump is due to huge excitement for the imminent NU7 upgrade, which is set to be activated on the mainnet on November 5. The upgrade will significantly reduce the block confirmation time from 75 seconds to 25 seconds.
📉 Risk Factors
Although there is strong bullishness, $ZEC is now overbought according to technical indicators, and thus short-term profit-taking could occur. Over the past month, $ZEC is down 17.3%. Furthermore, the Zcash ETF products recorded $115.5 million outflows over the past month.
🔮 Moving Forward
The coin is breaking through its resistance level at $1,300. Should the bulls keep the price above this level, the historical price models point towards a rapid surge towards the key psychological level of $1,500 ahead of mid-November.
💡 Important Points to Consider
The technological upgrades are revitalizing this privacy coin. It is important to see a break above $1,300 before joining the pump.
#ZECUSDT
Set for a Blow-Up?
🚀 Market Update
There has been a phenomenal 24-hour rise in the value of Zcash ($ZEC ) by 15.2% to sell at $1,316.41. The pump is due to huge excitement for the imminent NU7 upgrade, which is set to be activated on the mainnet on November 5. The upgrade will significantly reduce the block confirmation time from 75 seconds to 25 seconds.
📉 Risk Factors
Although there is strong bullishness, $ZEC is now overbought according to technical indicators, and thus short-term profit-taking could occur. Over the past month, $ZEC is down 17.3%. Furthermore, the Zcash ETF products recorded $115.5 million outflows over the past month.
🔮 Moving Forward
The coin is breaking through its resistance level at $1,300. Should the bulls keep the price above this level, the historical price models point towards a rapid surge towards the key psychological level of $1,500 ahead of mid-November.
💡 Important Points to Consider
The technological upgrades are revitalizing this privacy coin. It is important to see a break above $1,300 before joining the pump.
#ZECUSDT