$ZEC A Major Network Upgrade Is Approaching, But Price Still Needs to Stabilize 👀
Zcash is facing selling pressure after retreating from recent highs, but an upcoming network upgrade gives traders another catalyst to watch.
ZEC traded near $1,165 on October 24, down roughly 4.4% over 24 hours. After reaching above $1,368 earlier in the week, the pullback has weakened short-term momentum.
Here’s what makes this setup interesting: 👇
Zcash’s NU7 upgrade is targeted for November 5, introducing faster 25-second blocks instead of 75 seconds if activated as planned. The upgrade also preserves the existing halving schedule, following a strong coinholder vote.
That could improve transaction speed, but the market still needs to show whether the development translates into sustained buying demand.
My ZECUSDT Trading Plan:
🟢 Bullish confirmation: Reclaim $1,220 and hold the breakout on a retest. That could open the way toward $1,258, followed by $1,315.
🔴 Bearish confirmation: Lose $1,155 and fail to recover it. That would weaken the setup and put $1,117 into focus.
My read: NU7 is a concrete catalyst, but it doesn’t guarantee a price rally. I want to see buyers reclaim resistance and sustain volume before treating this pullback as a buying opportunity.
The upgrade gives ZEC a reason to stay on the watchlist. Price confirmation will decide the trade.
Zcash is facing selling pressure after retreating from recent highs, but an upcoming network upgrade gives traders another catalyst to watch.
ZEC traded near $1,165 on October 24, down roughly 4.4% over 24 hours. After reaching above $1,368 earlier in the week, the pullback has weakened short-term momentum.
Here’s what makes this setup interesting: 👇
Zcash’s NU7 upgrade is targeted for November 5, introducing faster 25-second blocks instead of 75 seconds if activated as planned. The upgrade also preserves the existing halving schedule, following a strong coinholder vote.
That could improve transaction speed, but the market still needs to show whether the development translates into sustained buying demand.
My ZECUSDT Trading Plan:
🟢 Bullish confirmation: Reclaim $1,220 and hold the breakout on a retest. That could open the way toward $1,258, followed by $1,315.
🔴 Bearish confirmation: Lose $1,155 and fail to recover it. That would weaken the setup and put $1,117 into focus.
My read: NU7 is a concrete catalyst, but it doesn’t guarantee a price rally. I want to see buyers reclaim resistance and sustain volume before treating this pullback as a buying opportunity.
The upgrade gives ZEC a reason to stay on the watchlist. Price confirmation will decide the trade.