Something has changed since my last $ZEC update.
The $1,127 support area has now been tested, and price has pushed as low as $1,120.03.
Current Binance Spot snapshot:
Price: $1,128.12
24H Change: -10.71%
24H High: $1,278
24H Low: $1,120.03
24H Trading Volume: $180.4M
Here’s what caught my attention.
Selling pressure is still stronger than buying pressure. Recent Binance Futures data also shows more aggressive selling volume over the last 12 hourly observations.
But there’s another interesting detail: Binance futures accounts are slightly tilted long, while tracked large traders on Hyperliquid are showing a much stronger short bias.
That difference makes the current market situation worth watching.
Let’s look at the important levels:
🔹 $1,120–$1,127: Immediate support zone.
🔹 $1,145–$1,167: First recovery zone. Buyers need to reclaim this area to show some strength.
🔹 $1,180–$1,200: Major resistance.
🔹 $1,100: Next downside area if support fails.
One more thing worth watching:
Zcash’s upcoming NU7 upgrade is expected around November 5. It will reduce target block times from 75 seconds to 25 seconds.
That’s a significant network development, although it doesn’t guarantee an immediate price recovery.
My personal chart view:
I’m not ready to call a bottom just because ZEC is near support.
A strong recovery above $1,167 would make the chart more interesting. On the other hand, a confirmed breakdown below $1,120 could bring further weakness.
For now, patience matters more than predictions.
What do you think?
Can ZEC defend $1,120 and surprise the market, or is another downside move still possible?
Let’s discuss. 👇
#ZEC #zcash #CryptoAnalysis #Binance #CryptoMarket
Disclaimer: Educational market commentary, not financial advice. Market conditions can change quickly.
