Zcash falls 37% after 250% rally, tests $1,193 support
- —ZEC trades near $1,240 after retreating from a $1,368 local high
- —Support at $1,193; a break opens $1,113 and then $1,000
- —Futures open interest dropped from $2 billion to $1.46 billion
- —NU7 upgrade expected around Nov 5: block time cut from 75 to 25 seconds
Why it matters: The NU7 upgrade could revive demand, but a reversal needs spot volume recovery and a break above $1,400.
Source: Blockmedia