Two coins with real momentum this morning: $ZEC and $NEAR
Both are up about 6% in 24 hours on Binance spot while $BTC is up about 1.6%. The reasons behind each move are different, so I'm watching them for different things.
$ZEC (around $1,311)
Zcash has a date on the calendar. The Zcash Foundation says the NU7 upgrade activates at block 3,543,405, planned for around November 5. It cuts block time from 75 seconds to 25, and moves 60% of each block's transaction fees into a reserve instead of paying them all to miners. The 21 million supply cap stays the same.
The volume is the part I noticed. ZEC traded about $168 million on Binance spot in the last 24 hours, more than $SOL did.
Levels: today's high at $1,330.95 is the first ceiling, then $1,368.40 from October 21. Support sits at $1,291.77, today's low, and then $1,212 to $1,234 from Tuesday. ZEC is flat on the week and still about 12% below its September 30 high of $1,494.52, so this is a recovery inside a range for now.
$NEAR (around $4.73)
FXStreet reported that NEAR Intents launched confidential perpetual contracts on Jio Platforms, the Reliance Group's IPO listing today. On the other side, Bitwise's NEAR ETF saw about $4.84 million of outflows on Tuesday after $1.40 million of inflows on Monday.
Levels: $4.807, today's high, is the first test, then the $5.00 to $5.01 area from October 23. Support is $4.39 from Tuesday, then $4.25, the October 24 low and the lowest price in 30 days. NEAR is still down about 10% on the week and about 21% below its October 12 high of $6.00.
The Fed speaks tonight, and both coins can give back a lot in one candle. I'm watching whether the volume holds into the weekend.
Data from Binance public API, pulled 07:59 GMT on 28 October. Not financial advice. DYOR.
Both are up about 6% in 24 hours on Binance spot while $BTC is up about 1.6%. The reasons behind each move are different, so I'm watching them for different things.
$ZEC (around $1,311)
Zcash has a date on the calendar. The Zcash Foundation says the NU7 upgrade activates at block 3,543,405, planned for around November 5. It cuts block time from 75 seconds to 25, and moves 60% of each block's transaction fees into a reserve instead of paying them all to miners. The 21 million supply cap stays the same.
The volume is the part I noticed. ZEC traded about $168 million on Binance spot in the last 24 hours, more than $SOL did.
Levels: today's high at $1,330.95 is the first ceiling, then $1,368.40 from October 21. Support sits at $1,291.77, today's low, and then $1,212 to $1,234 from Tuesday. ZEC is flat on the week and still about 12% below its September 30 high of $1,494.52, so this is a recovery inside a range for now.
$NEAR (around $4.73)
FXStreet reported that NEAR Intents launched confidential perpetual contracts on Jio Platforms, the Reliance Group's IPO listing today. On the other side, Bitwise's NEAR ETF saw about $4.84 million of outflows on Tuesday after $1.40 million of inflows on Monday.
Levels: $4.807, today's high, is the first test, then the $5.00 to $5.01 area from October 23. Support is $4.39 from Tuesday, then $4.25, the October 24 low and the lowest price in 30 days. NEAR is still down about 10% on the week and about 21% below its October 12 high of $6.00.
The Fed speaks tonight, and both coins can give back a lot in one candle. I'm watching whether the volume holds into the weekend.
Data from Binance public API, pulled 07:59 GMT on 28 October. Not financial advice. DYOR.
