The price of Zcash (ZEC) increased by 8.34% over the past 24 hours, reaching approximately $1,325 on October 12, with trading volume rising by 175.80%. Investors are evaluating whether the cryptocurrency can overcome the resistance level around $1,330 and move towards $1,400. The total trading volume amounted to about $971.8 million, and Zcash's market capitalization approached $22.51 billion, placing it tenth among tracked cryptocurrencies. Analyst Austin Barak identified $1,330 as an important trend level following the recent recovery in Zcash's price. However, Eric Van Tassel expressed concerns about the potential formation of a "head and shoulders" chart pattern.
Zcash developers, in turn, plan to introduce post-quantum signature instructions in January 2027, continuing their work on developing privacy-focused wallets. All these events occur against the backdrop of recent price fluctuations, with Zcash previously reaching around $1,700 in September, followed by a decline. The MACD indicator also points to a weakening buying momentum, which may be alarming for investors. Barak added that support above the $1,330 level could create favorable conditions for another attempt to reach Zcash's historical highs.
The preliminary target date for activating the NU7 network upgrade is set for November 5, aiming to reduce the target block interval from 75 to 25 seconds. Developers have urged node operators to prepare compatible software ahead of the anticipated activation, although the final date will depend on testing and release readiness.
This material is prepared solely for informational purposes and does not constitute financial advice or a recommendation.
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