Is $ZEC Planning a touch down to $1,190 from $1,401?
Privacy tokens like #Zcash lately has had a huge wave in price surge, and following the Zcash's 7th network upgrade, NU7 which is targeting a reduction in block intervals from 75 seconds to 25 seconds we might see new price ATH for ZEC.
WHY IT MATTERS TO INVESTORS:
1. Faster confirmations: Exchanges and payment providers can process ZEC deposits faster.
2. Better user experience: Less waiting for transaction confirmations.
3. Shielded transaction capacity: NU7 introduces new limits designed to increase Orchard throughput and reduce wallet spam exposure.
PRICE OVERLOOK:
Currently for the past 7days, ZEC has been ranging between 1,057 to 1,390 price level which seem like an accumulation from large institutions in wait for the upgrade on the 5th of November.
SHORT TERM BEARISH STRUCTURE:
If price breaks low out of the chubby structure, then price will short to the next most traded zone around $900 for a support level to push it to a new ATH after the upgrade.
MY BULLISH SETUP:
I have a long term bullish bias for ZEC and I'm also gonna be leveraging this catalyst
ENTRY: 916.15
SL: 744.41
Do you think the NU7 Upgrade is enough catalyst to push price to a new ATH?
Privacy tokens like #Zcash lately has had a huge wave in price surge, and following the Zcash's 7th network upgrade, NU7 which is targeting a reduction in block intervals from 75 seconds to 25 seconds we might see new price ATH for ZEC.
WHY IT MATTERS TO INVESTORS:
1. Faster confirmations: Exchanges and payment providers can process ZEC deposits faster.
2. Better user experience: Less waiting for transaction confirmations.
3. Shielded transaction capacity: NU7 introduces new limits designed to increase Orchard throughput and reduce wallet spam exposure.
PRICE OVERLOOK:
Currently for the past 7days, ZEC has been ranging between 1,057 to 1,390 price level which seem like an accumulation from large institutions in wait for the upgrade on the 5th of November.
SHORT TERM BEARISH STRUCTURE:
If price breaks low out of the chubby structure, then price will short to the next most traded zone around $900 for a support level to push it to a new ATH after the upgrade.
MY BULLISH SETUP:
I have a long term bullish bias for ZEC and I'm also gonna be leveraging this catalyst
ENTRY: 916.15
SL: 744.41
Do you think the NU7 Upgrade is enough catalyst to push price to a new ATH?
