Zcash just moved to 25-second blocks. So why is $ZEC down about 17% from last week's high?
NU7 went live on November 6 without a hitch: blocks three times faster, and 60% of fees now parked in a reserve for future miners. Clean upgrade, real progress. Yet ZEC slid from roughly $1,388 to about $1,150 on Binance.
Here's what most people miss: the selling wasn't about the tech. Across six big futures venues, open interest fell about 40% in two days, and longs took most of the liquidations. That's leverage leaving, not believers leaving. Classic "buy the rumor, sell the upgrade", landing in a market where BTC is fighting for $74K and US CPI drops today.
Key levels: support near $1,120 to $1,130, resistance around $1,236, then $1,290.
With the froth flushed out, is ZEC loading its next leg, or did the upgrade mark the top?
Not financial advice.
#ZEC #Zcash #PrivacyCoins #CPI
NU7 went live on November 6 without a hitch: blocks three times faster, and 60% of fees now parked in a reserve for future miners. Clean upgrade, real progress. Yet ZEC slid from roughly $1,388 to about $1,150 on Binance.
Here's what most people miss: the selling wasn't about the tech. Across six big futures venues, open interest fell about 40% in two days, and longs took most of the liquidations. That's leverage leaving, not believers leaving. Classic "buy the rumor, sell the upgrade", landing in a market where BTC is fighting for $74K and US CPI drops today.
Key levels: support near $1,120 to $1,130, resistance around $1,236, then $1,290.
With the froth flushed out, is ZEC loading its next leg, or did the upgrade mark the top?
Not financial advice.
#ZEC #Zcash #PrivacyCoins #CPI
