Zcash Slides 25% in October as NU7 Upgrade Nears and Traders Weigh Rebound
ZEC rebounded about 2.6% to $1,184 on October 25 after a 25.27% monthly decline, according to crypto.news market data. The token is trading below its 20-day moving average as Network Upgrade 7 is set to activate around November 5.
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Price Action and Liquidations
Zcash rose roughly 2.6% to $1,184 on October 25, according to crypto.news, recovering part of recent losses. Over the prior 24 hours ZEC traded between $1,120.66 and $1,223.01 on volume near $575 million. The token gained 5.44% over seven days but remained 25.27% lower over the past month.
CoinGlass data cited by crypto.news showed $14.02 million in ZEC liquidations over 24 hours, with roughly $10.03 million from long positions and $3.99 million from shorts. Those forced closures fell mostly on traders betting on higher prices, even as the spot price finished the period higher. The figures overlap in time and should not be summed into a single loss total.
Derivatives Positioning
Crypto.news reported on October 23 that ZEC futures open interest fell 12.45% to $2.37 billion, while futures turnover dropped 10.28% to about $7.23 billion, signaling traders reduced outstanding exposure. Separate market estimates put long positioning on Hyperliquid near 82.2%. Analysts note that a single platform's reading does not describe the direction of the wider ZEC derivatives market, and the two sources do not offer a shared figure for total market positioning.
Technical Setup
The supplied technical snapshot placed ZEC near $1,192, below its 20-day simple moving average of $1,213.77. The Relative Strength Index stood at 46.92, modestly above its moving average of 45.82, which crypto.news said indicates some recovery in buying but does not confirm bullish momentum. Bollinger Bands placed the upper boundary at $1,343.38 and the lower near $1,084.17.
Crypto.news identified immediate support around $1,175 to $1,180, followed by $1,100 and $1,084, with a daily close below those levels exposing the $1,000 area. Reclaiming $1,214 would bring $1,300 and $1,343 into focus. Analyst BitGuru identified resistance between $1,220 and $1,270 on the four-hour chart and warned that a rejection could push prices toward $1,140, $1,090 or $1,040.
Bitcoinist described a consolidation between roughly $1,200 and $1,400 after a pullback from an all-time high, and argued the range resembles the setup that preceded ZEC's earlier rally of about 250%. The two outlets frame the range differently: crypto.news cites September's rally toward $1,700 as the reference point, while Bitcoinist centers its comparison on the all-time high and the $1,200 to $1,400 band.
Network Upgrade 7
The Zcash Foundation confirmed on October 22 that Network Upgrade 7 (NU7) will activate at block 3,543,405, expected around November 5, with Zebra 7.0.0 supporting the new consensus rules. NU7 reduces the target block interval from 75 seconds to 25 seconds, which the foundation says allows first confirmations roughly three times faster. The upgrade also reserves part of transaction fees for future block rewards.
The foundation states the change does not alter Zcash's 21 million coin supply cap or its scheduled daily issuance. Node operators must install compatible software before activation to stay on the updated chain. The calendar date depends on block production, so the November 5 estimate is approximate.
Why It Matters
For Traders
ZEC sits just below its 20-day average with support near $1,175 to $1,180, so the next daily close relative to that zone and the $1,214 level will shape near-term direction.
For Investors
A 25% monthly drawdown alongside an unchanged supply cap and issuance schedule makes NU7's effect on confirmation speed and fee handling the main structural variable to track.
For Builders
Shortening the block interval to 25 seconds and reserving fees for future rewards changes confirmation timing and fee assumptions, so node operators and integrators need Zebra 7.0.0 before activation.
This article is for information only and is not financial advice. Read the full disclaimer.
