Today is the day of ZEC’s upgrade, but the market isn’t showing any signs of “selling the news.”
This morning I said that with event-driven coins, people often buy the rumor and sell the news, so some may rush to exit once the event goes live. But after dipping to 1285 a little after 9 a.m., the price was quickly bought up. It surged to 1326 at 11, and is now at 1313 U.
According to the development team’s plan, NU7 is going live on mainnet today, and block times will be cut from 75 seconds to 25 seconds. There’s still no official confirmation on whether it’s been activated, but the market has already cast its vote: no one’s in a hurry to sell.
That said, the broader market has been rallying over the past couple of days, and ZEC has been riding that wave too. The upgrade isn’t the only reason for its gains. We’ll have to wait for the activation announcement to see how strong the move really is.
Senior Brother’s take is to remain bullish, but don’t chase when the price is this close to its high. If it pulls back to 1285 and holds, you could consider getting in; if it breaks above 1326, then look for higher levels. If it falls back below 1250, that means people are selling the news—stay away for now. #ZEC $ZEC
This morning I said that with event-driven coins, people often buy the rumor and sell the news, so some may rush to exit once the event goes live. But after dipping to 1285 a little after 9 a.m., the price was quickly bought up. It surged to 1326 at 11, and is now at 1313 U.
According to the development team’s plan, NU7 is going live on mainnet today, and block times will be cut from 75 seconds to 25 seconds. There’s still no official confirmation on whether it’s been activated, but the market has already cast its vote: no one’s in a hurry to sell.
That said, the broader market has been rallying over the past couple of days, and ZEC has been riding that wave too. The upgrade isn’t the only reason for its gains. We’ll have to wait for the activation announcement to see how strong the move really is.
Senior Brother’s take is to remain bullish, but don’t chase when the price is this close to its high. If it pulls back to 1285 and holds, you could consider getting in; if it breaks above 1326, then look for higher levels. If it falls back below 1250, that means people are selling the news—stay away for now. #ZEC $ZEC
