Zcash recovered above $1,300 on Nov. 4 as developers prepared the NU7 network upgrade. Analyst Ardi is watching $1,370 as the breakout level, while NU7 changes block timing, fee allocation and the status of legacy funds.
Zcash climbed roughly 9% to $1,310 on Nov. 4, recovering ahead of its NU7 upgrade as traders watch whether ZEC can break through $1,370. CoinGecko data showed ZEC up 9.4% over 24 hours, after it moved between $1,159.27 and $1,347.03 during the session.
The rebound placed the privacy coin tenth by market capitalization, according to the same report.
Traders watch $1,370 after support holds
Analyst Jesse Olson said in a Nov. 4 X post that ZEC had found support at the yellow line on his daily chart. He described the move as a breakout with a pending daily buy signal.
Ardi, however, placed his entry condition at $1,370, saying a break above that level could squeeze short positions positioned higher. At $1,310.03, ZEC would need to gain approximately 4.6% to reach that trigger.
Others set higher targets. Sweep claimed that once ZEC breaks above $1,350, it will jump to $2,000, according to CryptoPotato.
NU7 cuts block time to 25 seconds
The Zcash Foundation places NU7 activation at mainnet block 3,543,405, expected around Nov. 5. The date remains an estimate because activation follows the chain reaching that height.
Under ZIP 218, the target time between blocks falls from 75 seconds to 25 seconds, and the scheduled subsidy per block falls by a factor of three. The foundation says the four-year halving schedule and 21 million supply cap remain unchanged.
NU7 also introduces a Network Sustainability Mechanism that places 60% of transaction fees into a reserve, leaving miners the remaining 40%.
Legacy funds and the grants dispute
Version 4 transactions become invalid at activation. Because Sprout transfers depend on that version, the foundation says ZEC remaining in the Sprout pool will become unspendable.
Separately, Zcash Community Grants withdrew its 98,000 ZEC funding proposal following community feedback. A competing 50,000 ZEC proposal backed by Tachyon Group and Shielded Labs remains a proposal.
Sources: crypto.news, CryptoPotato
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