Zcash (ZEC) Longs Take $14 Million in Futures Liquidations as Price Rebounds

Longs Take the Liquidation Hit

Zcash (ZEC) crypto futures traders absorbed $14.02 million in forced closures over the past 24 hours, and long accounts carried most of the damage even as the token itself moved higher. A liquidation closes a leveraged position by force once its margin runs out, and aggregated derivatives data shows longs took about $10.03 million of the total against $3.99 million on the short side. Venue data placed the long share on Hyperliquid near 82.2%, a platform-specific reading that does not set direction for the market as a whole, but the closure skew points the same way. The imbalance means traders betting on upside suffered most of the exits while the Zcash price finished the reading in positive territory. A narrower 12-hour window recorded $1.57 million in closures, split between $893,770 in longs and $679,790 in shorts; the two windows overlap, so the figures cannot be added to a running total. Forced exits of this kind concentrate where leverage is dense, and the longside share here points at crowded upside bets built during the month's earlier rally. Sunday's climb followed several sessions in which the privacy-focused altcoin struggled to hold $1,200, and the repeated tests left leveraged longs exposed to each swing. The token last changed hands near $1,208, up 4.3% over 24 hours and about 1% since that reading was taken. ZEC is 5.44% higher over seven days yet still 25.27% lower across the month, and the session band ran between $1,120.66 and $1,223.01 on volume near $575 million. The drawdown is the back side of September's rally toward $1,700, from which buyers have yet to retake control. Positioning had already been shrinking into the weekend: futures open interest fell 12.45% to $2.37 billion by October 23 as derivatives leverage unwound, and futures turnover dropped 10.28% to roughly $7.23 billion.

Our composite support and resistance scoring frames the climb as a rally under a hard ceiling. The strongest resistance sits at $1,234.54, scored 98 out of 100, just above the 20-day average that capped October trade, while the heaviest support stacks at $1,062, scored 96 out of 100. Positioning reads crowded but calm: perpetual futures funding prints a mild 0.0054% and aggregate open interest stands near $722 million. With the trend graded sideways, a daily close above $1,234.54 would be the first clean break of the ceiling and force shorts to chase; losing $1,062 would put the longside closure pressure right back on. A fuller Zcash technical analysis view carries the level detail.

NU7 Heads for Block 3,543,405

Behind the derivatives churn sits a scheduled change to the chain. The Zcash Foundation confirmed on October 22 that Network Upgrade 7, or NU7, will activate at block 3,543,405, expected around November 5, and its Zebra 7.0.0 node software already implements the new consensus rules. The deployment specification fixes the activation height, while the calendar date follows block production. The upgrade cuts the target block interval from 75 seconds to 25 seconds, so transactions should receive their first confirmation roughly three times faster. It also adds a mechanism that temporarily reserves part of network fees for future block rewards, without touching the 21 million coin supply cap or the scheduled daily issuance. Node operators must install compatible software before activation to stay connected to the updated chain. Longer-term work continues as well: the Ironwood shielded pool upgrade, deployed earlier in 2026, tightened supply accounting and carries provisions meant to support recovery if quantum computing ever breaks existing cryptography, though current ZEC transactions are not quantum-resistant. Institutional demand remains a mixed input: Winklevoss Asset Services has proposed a spot Zcash fund that stays subject to regulatory review, and an application alone does not guarantee a product reaches the market. On the chart, analyst BitGuru's market update flagged resistance between $1,220 and $1,270 on the four-hour view and warned that another rejection there could drag price toward $1,140, $1,090 or $1,040. The standing liquidation reading, $14.02 million with the skew on longs, holds until a daily close clears $1,214 and relieves the longside pressure, or support at $1,175 gives way and forces another round of it.

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