It rose nearly 10% during a week of shocks. The month is still in the red, though.
ZEC/USDT is trading at 1,256.85 (−1.35% in 24 hours). The day's range was 1,244.14–1,290.83. Volume was 57,221 ZEC (72.75M USDT). Its 2026 high was 1,698, on September 26.
🐻 The cautious one
In October, ZEC fell about 12%, more than Bitcoin. The strong week may have been partly due to short positions being closed. Current volume is low, and low-volume rebounds often lose steam.
🐂 The optimist
During the week of the Binance hack, ZEC rose about 9.5%. Bitcoin fell 4%. The price is above all three EMAs (averages that smooth out price movements). Also, Zcash's NU7 upgrade is expected around November 5.
↔️ The range-bound scenario
Since the high, the price has been moving between approximately 1,100 and 1,370. As long as volume remains low, this range is the most likely scenario. A breakout on volume would change the outlook.
🌍 The big picture
Gold fell nearly 7% in October amid fears of further Fed rate hikes. ZEC and gold are not linked. The same anxieties weighed on both, but ZEC reacted differently. Binance says ZEC is backed 1:1 following the theft of approximately US$6.36 billion, which analytics firms attributed to North Korea. No one yet knows how withdrawals will behave when they reopen.
🛡️ The risk manager
Open interest in futures is high: between US$1.5 billion and US$2.9 billion, depending on the source. This amplifies moves in both directions. Key data: U.S. employment (Nov. 6) and inflation (Nov. 10). What we can’t know: whether the strength came from genuine demand or short covering.
📍 Levels to keep on your radar
Resistance: 1,290 (24-hour high), 1,317–1,373, 1,500 (September zone), 1,698 (cycle high).
Support: 1,244 (24-hour low), 1,210 (50 EMA), 1,100–1,120, 1,050–1,062 (Oct. 18 low and 99 EMA).