On October 20, Zcash developers will make the call on activating NU7 on mainnet. $ZEC is now hovering around 1183, down 4.2% over the past 24 hours. Is this news actually bullish, or has it already been priced in?
My take: NU7 will cut block times from 75 seconds to 25 seconds—a real upgrade. But the market has mostly been driven by leveraged liquidations and ETF flows over the past few days. Grayscale’s ZEC fund saw its first net inflow since September 22 on October 14, only to see outflows again afterward. Flows aren’t showing much conviction. On top of that, U.S. CPI came in at 3.7%, above the 3.6% forecast, and broader risk appetite is also weakening.
Here are the key levels on the chart:
The green S1 line at 1081 is near the recent 4-hour low. If it doesn’t hold, watch S2 at 1050.
The red R1 line at 1240 marks the previous rebound high, while R2 at 1290 is the consolidation zone from before the early-October pullback.
Scenario 1: Price holds 1081 around the decision, then breaks above 1240 on strong volume. The news fuels a rebound, with 1290 as the target.
Scenario 2: The bullish news was priced in early. After the decision, price breaks below 1081 on strong volume and retests 1050—or even lower.
I think Scenario 2 is slightly more likely. In the short term, this looks more like “buy the rumor, sell the news”—unless ETF flows turn consistently positive.
Which side are you on: will NU7 be a case of “buy the news” or “sell the news”?
⚠️Just my personal ramblings; this is not investment advice.
#Zcash #山寨币轮动 #NU7
$ZEC
My take: NU7 will cut block times from 75 seconds to 25 seconds—a real upgrade. But the market has mostly been driven by leveraged liquidations and ETF flows over the past few days. Grayscale’s ZEC fund saw its first net inflow since September 22 on October 14, only to see outflows again afterward. Flows aren’t showing much conviction. On top of that, U.S. CPI came in at 3.7%, above the 3.6% forecast, and broader risk appetite is also weakening.
Here are the key levels on the chart:
The green S1 line at 1081 is near the recent 4-hour low. If it doesn’t hold, watch S2 at 1050.
The red R1 line at 1240 marks the previous rebound high, while R2 at 1290 is the consolidation zone from before the early-October pullback.
Scenario 1: Price holds 1081 around the decision, then breaks above 1240 on strong volume. The news fuels a rebound, with 1290 as the target.
Scenario 2: The bullish news was priced in early. After the decision, price breaks below 1081 on strong volume and retests 1050—or even lower.
I think Scenario 2 is slightly more likely. In the short term, this looks more like “buy the rumor, sell the news”—unless ETF flows turn consistently positive.
Which side are you on: will NU7 be a case of “buy the news” or “sell the news”?
⚠️Just my personal ramblings; this is not investment advice.
#Zcash #山寨币轮动 #NU7
$ZEC