YESTERDAY THE ZCASH TEAM WALKED OUT AND THE PLAN CALLED 1300
Bitcoin is parked near 83 thousand doing nothing
And the most interesting tape today belongs to the coin the obituary writers already buried yesterday
Yesterday ZEC bled 15 percent on news that the entire Electric Coin Company team walked out
The plan in that post was entries at 1100 to 1150 with targets at 1200 1300 and 1400 and a stop under 1050
Today it tagged 1327 and trades at 1311 up 11 percent on 244 million dollars of Binance spot volume in a single day
The catalyst flipped overnight
On Tuesday developer Sean Bowe published a GitHub proposal locking the NU7 mainnet activation at block 3543405 expected around November 5
The upgrade cuts block time from 75 seconds to 25 seconds so payments confirm 3x faster and moves 60 percent of transaction fees into a reserve paid out over time
Funny how a team walking out and a ship date arriving can happen inside the same 48 hours
My take is the market stopped pricing the team drama and started pricing the upgrade
ZEC is up 148 percent year to date and it sits at number 10 by market value
Going forward my read is 1400 is the next real test because that is where the old September pump died
A daily close back under 1230 kills the whole setup because that is the 200 period average the price just reclaimed
1300 target hit in one day
Is 1400 next or does the upgrade news get sold first
$ZEC
$XMR
$BTC
#BinanceSquare #WriteToEarn #Crypto #Bitcoin #ZECNU7
Bitcoin is parked near 83 thousand doing nothing
And the most interesting tape today belongs to the coin the obituary writers already buried yesterday
Yesterday ZEC bled 15 percent on news that the entire Electric Coin Company team walked out
The plan in that post was entries at 1100 to 1150 with targets at 1200 1300 and 1400 and a stop under 1050
Today it tagged 1327 and trades at 1311 up 11 percent on 244 million dollars of Binance spot volume in a single day
The catalyst flipped overnight
On Tuesday developer Sean Bowe published a GitHub proposal locking the NU7 mainnet activation at block 3543405 expected around November 5
The upgrade cuts block time from 75 seconds to 25 seconds so payments confirm 3x faster and moves 60 percent of transaction fees into a reserve paid out over time
Funny how a team walking out and a ship date arriving can happen inside the same 48 hours
My take is the market stopped pricing the team drama and started pricing the upgrade
ZEC is up 148 percent year to date and it sits at number 10 by market value
Going forward my read is 1400 is the next real test because that is where the old September pump died
A daily close back under 1230 kills the whole setup because that is the 200 period average the price just reclaimed
1300 target hit in one day
Is 1400 next or does the upgrade news get sold first
$ZEC
$XMR
$BTC
#BinanceSquare #WriteToEarn #Crypto #Bitcoin #ZECNU7