Zcash (ZEC) exploded about 11% in a single day to near $1,260 — a jump of roughly $121 — after its community backed the big NU7 upgrade and fresh privacy plans. Traders are now watching whether ZEC can hold above $1,234 support, especially as its own ETFs keep losing money week after week.
Key points:
• Zcash surged about 11% to near $1,260 after strong community support for the NU7 upgrade, which would send 60% of transaction fees into a reserve for future block rewards and make blocks faster.
• The rally came even though Grayscale's ZCSH and other Zcash spot ETFs lost about $10.4 million over three weeks, with about $602 million still held in the funds.
• ZEC traded in a wide $1,125 to $1,273 range on the day, and now sits just below its 50-day average near $1,262 — the level bulls need to break next.
The main driver is NU7, Zcash's next big network upgrade. Under the plan, 60% of all transaction fees would go into a reserve that pays future block rewards, and block times would get faster. The proposals have won strong backing from the community, and developers are also discussing better privacy for cross-chain swaps through NEAR Intents — a hot topic as traders look for safer ways to move coins between chains.
The strange part is the money flow. While the price jumped, Zcash spot ETFs kept bleeding: about $10.4 million left the funds over three straight weeks up to October 19, led by Grayscale's ZCSH, even though the funds still hold about $602 million in total. In other words, spot buyers on exchanges pushed ZEC up while ETF investors were heading for the exit — the same kind of split that often makes the next move violent in either direction.
Can ZEC hold above $1,234?
Technically, ZEC is at a decision point. It trades just below its 20-day average near $1,247 and its 50-day average near $1,262, but far above its 200-day average near $682, so the long-term trend is still strongly up. Several momentum tools still flash oversold and sell signals, which means this jump could either be the start of a real breakout — or a bounce that fades if ZEC slips back below the $1,234 floor. The next big resistance sits much higher, near $1,373.
Why it matters for traders
Privacy coins are back in focus, and Zcash is leading the story with a real upgrade vote behind the price move, not just hype. If NU7 keeps gaining support and ETF outflows slow down, buyers may try for $1,373 next. If outflows grow and $1,234 breaks, traders warn the fall could be fast after such a sharp one-day rise. Either way, ZEC's next few sessions should be watched closely.
Read also: Monero Explodes Past $600 With 8% Jump — Is $634 Next?
— Crypto News Daily News Desk
This post is news only, not financial advice. Always do your own research before buying or selling crypto.
Sources: Traders Union, Basis Desk, CoinGecko
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