Zcash has climbed roughly 9% to $1,310 on Nov. 4, recovering ahead of its NU7 network upgrade as traders watch whether ZEC can break through $1,370. Summary ZEC has returned to the top 10 cryptocurrencies after recovering above $1,300. Jesse Olson identifies support and a pending daily buy signal, while Ardi watches $1,370. NU7 targets 25-second blocks, with activation expected around Nov. 5 at block 3,543,405. Zcash Community Grants has withdrawn its proposal to redirect approximately 98,000 ZEC toward mining rewards. Data from CoinGecko showed ZEC trading at $1,310.03, up 9.4% over 24 hours, after moving between $1,159.27 and $1,347.03 during the session. The recovery placed the privacy coin tenth by market capitalization. The rebound brought ZEC back above $1,300, although it remained below the level analyst Ardi identified as the trigger for another move higher. Meanwhile, network developers were preparing for an upgrade that changes transaction timing, mining rewards, and the treatment of funds in Zcash’s oldest privacy pool. Zcash traders watch $1,370 after support holds In a Nov. 4 X post, analyst Jesse Olson said ZEC had found support at the yellow line on his daily chart. His chart showed the price recovering from that line and moving above a descending trendline drawn across the recent consolidation. Olson described the move as a breakout with a pending daily buy signal. His wording left the signal awaiting confirmation, even as the price recovered from its latest decline. Ardi placed his own entry condition at $1,370, saying a break above that level could squeeze short positions positioned higher. His post repeated a threshold he had identified on Oct. 27, alongside a chart showing ZEC trading beneath descending resistance. At $1,310.03, ZEC would need to gain approximately 4.6% to reach his trigger. The session high of $1,347.03 remained below it, leaving his breakout condition unmet at the quoted price. Altcoin Sherpa disclosed that he had entered a perpetual futures long the previous night while already holding spot ZEC. He said he maintained the position through election-related volatility before the rebound moved in his favor. His argument centered on possible U.S. election outcomes: stronger interest in financial privacy under a Democratic sweep, or a crypto rally under an unexpected Republican result. He presented both as reasons for his trade, without establishing either as the cause of ZEC’s advance. NU7 targets faster blocks without tripling issuance The Zcash Foundation’s release announcement places NU7 activation at mainnet block 3,543,405, expected around Nov. 5. Activation follows the chain reaching that height, so the calendar date remains an estimate. Under ZIP 218, the target time between blocks falls from 75 seconds to 25 seconds. The scheduled subsidy per block falls by a factor of three, with halving intervals adjusted to preserve the intended issuance timetable. The specification includes small rounding differences in subsidy calculations. Faster blocks therefore do not mean three times as much newly issued ZEC, while the foundation says the four-year halving schedule and 21 million supply cap remain unchanged. NU7 introduces a Network Sustainability Mechanism that places 60% of transaction fees into a reserve, leaving miners the remaining 40%. Reissuance from the reserve starts later, at mainnet block 8,939,664, according to the deployment specification. Node operators must install compatible software before activation. As crypto.news previously reported, seven Zebra security fixes accompany preparations for the upgrade, addressing problems including stalled synchronization and excessive verification work. ZCG withdrawal leaves competing funding plans open Separately, Zcash Community Grants withdrew its 98,000 ZEC funding proposal following community feedback. The abandoned plan would have redirected treasury assets and future grant allocations toward mining rewards. Its components included approximately 36,200 ZEC from the existing treasury and a reduction in expected funding before the 2028 halving. The headline amount represented a combination of current assets and future income. A competing 50,000 ZEC proposal backed by Tachyon Group and Shielded Labs would require a treasury contribution and redirect future funding into a development and legal-defense lockbox. It remains a proposal, with the funding changes requiring an upgrade after NU7. The committee continues receiving its existing 8% allocation until changes are approved and implemented. NU7 carries a separate operational change for holders, including U.S. users with legacy funds: version 4 transactions become invalid at activation. Because Sprout transfers depend on that transaction version, the foundation says ZEC remaining in the Sprout pool will become unspendable.
