Zcash Struggles to Regain Momentum Ahead of NU7 Upgrade

The recent price action coincides with a period of intense pressure on derivatives markets. CoinGlass data indicates that traders saw $14.02 million in liquidations over 24 hours, with long positions accounting for $10.03 million of that total. This imbalance highlights the difficulty buyers face in maintaining control, even during intraday rallies. Technical indicators remain cautious, with ZEC trading below its 20-day simple moving average of $1,213.77. Analyst BitGuru notes that the four-hour chart currently exhibits bearish characteristics, placing critical resistance between $1,220 and $1,270. Failure to clear this zone risks pushing the price toward support levels at $1,140 or even $1,040.

Market participants are shifting their focus to the upcoming NU7 network upgrade, scheduled to activate at block 3,543,405 around November 5. The Zcash Foundation has confirmed that this update will reduce the block interval from 75 seconds to 25 seconds, significantly accelerating transaction confirmations. While the upgrade introduces new consensus rules, it maintains the existing 21 million coin supply limit. Beyond technical improvements, the ecosystem continues to navigate broader challenges, including regulatory hurdles for proposed spot exchange-traded funds and the ongoing development of shielded transaction protocols designed to bolster long-term network security.