Shorts were forced to cover on the eve of the upgrade, sending $ZEC up 13% in a day.
NU7 is expected to activate tomorrow (around November 5) when the chain reaches block 3,543,405, cutting the target block time from 75 seconds to 25 seconds. Zebra 7.0.0, released by the Zcash Foundation on October 22, already includes NU7 support. This upgrade is set to arrive on schedule at a specific block height—not just empty promises.
The price action lines up, too: the contract is up 13.08% over 24 hours, currently at $1,310.64, with a 24-hour high of $1,324.60 and a low of $1,158.11. Contract trading volume is $2.561 billion. The past hour has been especially wild, with $27.26 million in volume—more than double the volume in the preceding hours. That kind of volume doesn’t come from casual clicks.
I’ve marked the support and resistance levels on the chart, so it’s clear where this move bounced from.
Support: 1158.11
Resistance: 1324.60
Hold above 1158.11 → The upgrade narrative remains intact; watch for a move toward 1324.60
Break below 1158.11 → This was just a one-day short-covering rally; don’t get attached
Move above 1324.60 → Opens up room to run, but even if you chase, wait for a retest
I’m leaning bullish, but I’m only buying into the pre-upgrade front-running—I’m not chasing this candle. My invalidation condition is simple: if it closes below 1158.11, consider this post a bad call. NU7 goes live tomorrow. Are you waiting for the good news to be priced in, or betting on a continued rally after the upgrade?
⚠️Just my personal rambling; this is not investment advice.
#ZEC #NU7 #AltcoinRotation
NU7 is expected to activate tomorrow (around November 5) when the chain reaches block 3,543,405, cutting the target block time from 75 seconds to 25 seconds. Zebra 7.0.0, released by the Zcash Foundation on October 22, already includes NU7 support. This upgrade is set to arrive on schedule at a specific block height—not just empty promises.
The price action lines up, too: the contract is up 13.08% over 24 hours, currently at $1,310.64, with a 24-hour high of $1,324.60 and a low of $1,158.11. Contract trading volume is $2.561 billion. The past hour has been especially wild, with $27.26 million in volume—more than double the volume in the preceding hours. That kind of volume doesn’t come from casual clicks.
I’ve marked the support and resistance levels on the chart, so it’s clear where this move bounced from.
Support: 1158.11
Resistance: 1324.60
Hold above 1158.11 → The upgrade narrative remains intact; watch for a move toward 1324.60
Break below 1158.11 → This was just a one-day short-covering rally; don’t get attached
Move above 1324.60 → Opens up room to run, but even if you chase, wait for a retest
I’m leaning bullish, but I’m only buying into the pre-upgrade front-running—I’m not chasing this candle. My invalidation condition is simple: if it closes below 1158.11, consider this post a bad call. NU7 goes live tomorrow. Are you waiting for the good news to be priced in, or betting on a continued rally after the upgrade?
⚠️Just my personal rambling; this is not investment advice.
#ZEC #NU7 #AltcoinRotation
