Zcash's Ironwood Upgrade Set for July 21 Mainnet Launch

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 1 hour ago

Explore Agentic TradingLet AI Trade for You

Upgrade Finalization: Zcash developers have finalized the Ironwood upgrade, marking a key pre-launch milestone ahead of the July 21 mainnet launch, which aims to verify the soundness of the circulating supply and enhance user confidence.
Positive Market Reaction: During the Ironwood upgrade cycle, ZEC's price surged by 13% in a single week, indicating traders' optimistic expectations for the upgrade, which could drive future market performance.
Importance of Node Updates: The July 21 mainnet activation sets a fixed deadline for node operators, wallet providers, and exchanges to update their software, making a smooth upgrade process crucial to avoid undermining user confidence.
Rising Institutional Interest: With Grayscale seeking approval for a Zcash ETF listing and OKX confirming a relisting, the successful launch of Ironwood could further solidify institutional support for Zcash, enhancing its position in the digital asset market.

Get Real-Time Alerts for Any Crypto Movement

Monitor assets like ZEC with instant alerts on price breakouts and whale movements. Don't let a 24/7 market leave you behind.

Technical Analysis for ZEC

Technical Sentiment Analysis for Zcash (ZEC). As of , Zcash (ZEC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 2 indicators are flashing buy, while 4 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for ZEC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, ZEC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Zcash (ZEC) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	258.123	313.076	366.433	421.386	474.743	529.696	583.053
Fibonacci	313.076	354.451	380.012	421.386	462.761	488.322	529.696

About ZEC

Zcash is a decentralized cryptocurrency focused on privacy and anonymity. It uses the zk-SNARK zero-knowledge proof technology that allows nodes on the network to verify transactions without revealing any sensitive information about those transactions.Contrary to a common misunderstanding, the majority of cryptocurrencies on the market, including Bitcoin (BTC), are not anonymous, but rather pseudonymous; while they do not explicitly reveal the identities of their users, each user has their own public address or addresses which can be traced back to them via the methods of data science and blockchain forensics.Zcash transactions, on the other hand, still have to be relayed via a public blockchain, but unlike pseudonymous cryptocurrencies, ZEC transactions by default do not reveal the sending and receiving addresses or the amount being sent. There is an option, however, to reveal this data for the purposes of auditing or regulatory compliance.Zcash was first released on October 28, 2016, and it was originally based on Bitcoin’s codebase.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

Let AI Trade for You

Auto Trading Task on ZEC?

Get Started Free