$ZEC 1 Will October 20 end up being the bulls’ lifeline? 🤔
First, a look at the market: ZEC is hovering around 1,270, up about 4% over the past 24 hours, and its futures trading volume is still among the highest of the altcoins. But that huge red candle two days ago really stuck with me—it plunged to just over 1,120 in a single day. Reports say roughly $24 million worth of long positions in ZEC futures were liquidated that day.
There’s just one major news item: the decision on launching the NU7 upgrade on mainnet is scheduled for October 20, with a target date of November 5. Block times would drop from 75 seconds to 25 seconds. Keep in mind, this is only a plan for now; nothing has been finalized. The price is already more than 20% below its September high of 1,650, and the market is clearly waiting for this catalyst and positioning early.
I’ve marked a few levels on the chart: 1,185 below is support near the closing price from two days ago; if that breaks, 1,120 is next. Above, 1,300 and 1,350 are resistance levels the rebound will have to chew through. Honestly, trading volume during the rebound over the past couple of days has been mediocre, so I’m not convinced it’s worth chasing.
My view: I’m cautious ahead of the 20th. I won’t chase unless it gets above 1,350, and if it drops below 1,185, I think it’ll retest 1,120. I’ll wait until the official activation block height is confirmed before making a call. Are you positioning early or waiting for reliable news? Let’s talk in the comments 👇
⚠️Just my personal ramblings—not investment advice.
#ZEC #山寨币 #PrivacyCoins
$ZEC
First, a look at the market: ZEC is hovering around 1,270, up about 4% over the past 24 hours, and its futures trading volume is still among the highest of the altcoins. But that huge red candle two days ago really stuck with me—it plunged to just over 1,120 in a single day. Reports say roughly $24 million worth of long positions in ZEC futures were liquidated that day.
There’s just one major news item: the decision on launching the NU7 upgrade on mainnet is scheduled for October 20, with a target date of November 5. Block times would drop from 75 seconds to 25 seconds. Keep in mind, this is only a plan for now; nothing has been finalized. The price is already more than 20% below its September high of 1,650, and the market is clearly waiting for this catalyst and positioning early.
I’ve marked a few levels on the chart: 1,185 below is support near the closing price from two days ago; if that breaks, 1,120 is next. Above, 1,300 and 1,350 are resistance levels the rebound will have to chew through. Honestly, trading volume during the rebound over the past couple of days has been mediocre, so I’m not convinced it’s worth chasing.
My view: I’m cautious ahead of the 20th. I won’t chase unless it gets above 1,350, and if it drops below 1,185, I think it’ll retest 1,120. I’ll wait until the official activation block height is confirmed before making a call. Are you positioning early or waiting for reliable news? Let’s talk in the comments 👇
⚠️Just my personal ramblings—not investment advice.
#ZEC #山寨币 #PrivacyCoins
$ZEC