Two days after the ZEC upgrade was scheduled, it rose 14%. I’m watching just two numbers: 1280 and 1389.
Here’s what I saw: Zcash developers scheduled the NU7 upgrade for block 3,543,405, with activation expected around 11/5.
Block times will drop from 75 seconds to 25 seconds, and 60% of the fees will temporarily be taken out of circulation.
ZEC closed at $1,315.8 on 10/21, up 14% in two days and back above the 50-day moving average. BTC also hit a weekly high of $84,000 that day.
CoinDesk data shows that as the price rose 12%, open interest climbed 24%, while the annualized funding rate reached 10%.
But aggressive trades were dominated by sellers, and the price is still about 22% below the 9/26 high of 1693.
My take: The upgrade is a tangible improvement, but activation is still two weeks away, and leverage is already piling in.
That setup—new longs chasing while spot holders sell into the rally—is especially vulnerable to a sharp wick that sweeps the market.
What I’m doing: Watching, not chasing—and not catching a falling knife.
Resistance is at 1389 (the 10/6 high). A high-volume break above it would show that spot buyers are really stepping in, invalidating my view.
Support is at 1280 (the 50-day moving average) and 1251 (the 10/21 low). If it breaks below 1048 (the 10/18 low), stay away.
Which way are you betting: before activation on 11/5, will it break above 1389 first, or fall back below 1280?
ZEC BTC
#ZEN/USDT #隐失币
Here’s what I saw: Zcash developers scheduled the NU7 upgrade for block 3,543,405, with activation expected around 11/5.
Block times will drop from 75 seconds to 25 seconds, and 60% of the fees will temporarily be taken out of circulation.
ZEC closed at $1,315.8 on 10/21, up 14% in two days and back above the 50-day moving average. BTC also hit a weekly high of $84,000 that day.
CoinDesk data shows that as the price rose 12%, open interest climbed 24%, while the annualized funding rate reached 10%.
But aggressive trades were dominated by sellers, and the price is still about 22% below the 9/26 high of 1693.
My take: The upgrade is a tangible improvement, but activation is still two weeks away, and leverage is already piling in.
That setup—new longs chasing while spot holders sell into the rally—is especially vulnerable to a sharp wick that sweeps the market.
What I’m doing: Watching, not chasing—and not catching a falling knife.
Resistance is at 1389 (the 10/6 high). A high-volume break above it would show that spot buyers are really stepping in, invalidating my view.
Support is at 1280 (the 50-day moving average) and 1251 (the 10/21 low). If it breaks below 1048 (the 10/18 low), stay away.
Which way are you betting: before activation on 11/5, will it break above 1389 first, or fall back below 1280?
ZEC BTC
#ZEN/USDT #隐失币