$ZEC surged to a high of 1,388 after the upgrade, then hit a low of 1,236.64 this morning—a pullback of about 11%. The positive news is out, but it still didn’t support the price.
According to The Block and CoinDesk, Zcash’s NU7 upgrade was activated at 11:00 a.m. Beijing time on November 6, shortening block times from 75 seconds to 25 seconds.
A technical upgrade is one thing; whether the market is willing to keep buying is another. Binance spot was trading around 1,254 at 8:18 this morning, down about 5.4% in 24 hours.
This price action looks a bit like profit-taking after expectations were met, but price alone isn’t enough to conclude that all the selling is from funds that bought in early. The broader market has also been weak this week, with BTC hovering around 75,000 and ZEC under pressure too.
Next, watch for support near the previous low around 1,213, and whether any rebound can last rather than reversing after a single upward move.
A successful upgrade doesn’t mean you’ll make money just by buying in. Trading still comes down to price and position sizing—don’t rely on positive technical news to justify holding a losing position.
#ZEC #NU7 upgrade
This is not investment advice. Manage your position size yourself.
According to The Block and CoinDesk, Zcash’s NU7 upgrade was activated at 11:00 a.m. Beijing time on November 6, shortening block times from 75 seconds to 25 seconds.
A technical upgrade is one thing; whether the market is willing to keep buying is another. Binance spot was trading around 1,254 at 8:18 this morning, down about 5.4% in 24 hours.
This price action looks a bit like profit-taking after expectations were met, but price alone isn’t enough to conclude that all the selling is from funds that bought in early. The broader market has also been weak this week, with BTC hovering around 75,000 and ZEC under pressure too.
Next, watch for support near the previous low around 1,213, and whether any rebound can last rather than reversing after a single upward move.
A successful upgrade doesn’t mean you’ll make money just by buying in. Trading still comes down to price and position sizing—don’t rely on positive technical news to justify holding a losing position.
#ZEC #NU7 upgrade
This is not investment advice. Manage your position size yourself.
