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Zcash Price Climbs Back to $1,250 With NU7 Ten Days Away

ZEC is up 10% on the week with NU7 about ten days out, but it still hasn't closed back above its 50-day average. Here is what the countdown looks like.

· 3 min read
Zcash price climbs back to $1,248 with NU7 ten days away: Zcash coin on an hourglass of gold blocks, 11,971 blocks left to block 3,543,405, block time 75s to 25s
Zcash price climbs before NU7 Base Camp

The short version

  • Zcash price climbed 3.3% to $1,248 in 24 hours, up 10% on the week, with the NU7 upgrade about 12,000 blocks away.
  • NU7 goes live at block 3,543,405, around 01:00 UTC on November 6 (the evening of November 5 in New York), and cuts block time from 75 to 25 seconds.
  • The crew is watching the 50-day moving average at $1,301: ZEC has closed above it only once in two weeks, with $1,158 as support.

The Zcash price is climbing again as the NU7 countdown gets short. ZEC trades at $1,248 at the time of writing (16:00 UTC), up 3.3% in 24 hours after a day between $1,178 and $1,268 on Binance. It is up 10% on the week while Bitcoin barely moved.

Zcash NU7, the upgrade that cuts blocks from 75 seconds to 25, is now about 12,000 blocks away. ZEC is still 26% below its September 26 high of $1,698, and it has not closed above its 50-day moving average since Wednesday. So is this the run into NU7, or another bounce that stops at the same ceiling?

Zcash’s own account counted down to the upgrade on Sunday night:

Zcash's Blossom upgrade (2019) halved block time from 150 to 75 seconds ⏱️

This reduced the 500-block Sprout to Sapling pool migration interval from 20.8 to 10.4 hours.

Network Upgrade 7 (November 5th) reduces block time again from 75 to 25 seconds & disables Sprout

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Why Is the Zcash Price Up Today?

Because the upgrade date is getting close and nothing has knocked it off course. The NU7 launch block, 3,543,405, has been in the spec since developers merged it on October 21, and the Zcash Foundation shipped the node software for it a day later.

Leverage is coming back slowly. Open interest in OKX’s ZEC perpetual rose from 107,334 ZEC on Saturday to about 113,600 ZEC now, up 6%, with funding at 0.007% every eight hours. That’s a market leaning long, not one piling in.

The ETF side helps too. Grayscale’s Zcash ETF took in $41.1 million last week, $20.5 million of it on Friday, its fourth inflow day in a row.

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When Does the Zcash NU7 Upgrade Go Live?

Around 01:00 UTC on November 6, which is the evening of November 5 in New York. At 15:56 UTC on Monday the chain stood at block 3,531,434, so 11,971 blocks remain. At 75 seconds a block that’s about 10.4 days, and blocks rarely land exactly on time, so give it a few hours either way.

The software is ready. Zebra 7.0.0, out since October 22, is the first stable version that runs NU7 on mainnet. Every node operator has to install it before block 3,543,405, or their node ends up on a different chain once the upgrade switches on. The release also closes seven security advisories, five rated high.

For holders, one thing matters. Coins still sitting in Sprout, Zcash’s oldest shielded pool, can’t be spent after NU7. If you have any, move them before the upgrade.

SIDE TRAIL: Zcash NU7 Gets Its Block Height as ZEC Jumps 12%

Zcash Price Analysis: Can ZEC Get Back Above $1,301?

Zcash price chart ZECUSDT daily with 50 and 200 day moving average, $1,268 and $1,368 resistance and $1,158 and $1,049 supportZcash price chart ZECUSDT daily with 50 and 200 day moving average, $1,268 and $1,368 resistance and $1,158 and $1,049 support
ZECUSDT Chart 1D Binance

Not yet. The 50-day simple moving average sits at $1,301, and ZEC has closed above it only once in the past two weeks, on October 21. The 200-day MA is far below at $716, so the bigger trend in the Zcash price is still up.

The levels the crew is watching:

  • Resistance: $1,268 and $1,301. Today’s high, then the 50-day MA. A daily close above $1,301 puts $1,368 to $1,385 back in play, the zone that stopped ZEC on October 4, 6 and 21.
  • Support: $1,158 to $1,178. Friday’s low and today’s low. Under that sits $1,049, the October 18 low.

TRAIL MAP: Zcash ETF Takes $41M in a Week While Other Altcoin ETFs Bleed

Three ways this plays out:

  • Bull case: a close above $1,301, then a push through $1,368 as the upgrade gets close, with the $1,698 high the next big level.
  • Base case: the ZEC price chops between $1,178 and $1,301 until early November.
  • Bear case: a close under $1,158 sends it back to $1,049.

Remember how the testnet launch went. NU7 switched on there on October 4, ZEC pushed up to $1,385 in the days around it, then lost 10.6% on October 8. Upgrades often get bought on the way in and sold on the day.

Written by
TANG

In crypto since 2017. A technical trader with years of experience in DeFi and onchain data.

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