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<p>Zcash showed notable resilience yesterday amid the rout in the crypto market. The NU7 network upgrade might have provided some support. As a reminder, the upgrade reduces block times from 75 seconds to 25 seconds, making payments three times faster.</p><p>It will also disable older Sprout transaction pools and introduce a Network Sustainability Mechanism aimed at supporting the network's long-term funding. This is an important milestone for Zcash's development.</p><p class="MsoNormal" style="font-family: Aptos, sans-serif; margin: 7px 0; line-height: normal; font-size: 15px;">Nevertheless, the macro headwinds will continue to limit the upside. The Democratic Congress is expected to limit fiscal expansion and bring tighter regulation and restriction on AI infrastructure. Since the US economy is leveraged to AI investment, it could lead to a slowdown in growth and weigh on risk sentiment.</p><p class="MsoNormal" style="font-family: Aptos, sans-serif; margin: 7px 0; line-height: normal; font-size: 15px;">The wild card is the US-Iran situation. A breakthrough in negotiations would be positive for Zcash on improving growth outlook and risk sentiment. An escalation, on the other hand, will likely trigger another selloff on increasing growth concerns and safe haven flows, although there’s a chance that it could be short-lived if Trump launches limited strikes just to save face before exiting the war.</p><p class="MsoNormal" style="font-family: Aptos, sans-serif; margin: 7px 0; line-height: normal; font-size: 15px;"> </p><p class="MsoNormal" style="margin: 0 0 11px; font-family: Aptos, sans-serif; line-height: 104%; font-size: 15px;">ZCASH TECHNICAL ANALYSIS – DAILY TIMEFRAME</p><p></p><p class="MsoNormal" style="font-family: Aptos, sans-serif; margin: 7px 0; line-height: normal; font-size: 15px;">On the daily chart, we can see that <a href="https://www.tradingview.com/symbols/ZECUSD/" rel="follow" style="color: rgba(70, 120, 134, 1); text-decoration: underline;">Zcash</a>is approaching the major resistance zone around the 1,380 level. If the price gets there, we can expect the sellers to step in, with a defined risk above the resistance, to position for a drop into the 1,031 support. The buyers, on the other hand, will want to see the price breaking higher to increase the bullish bets into the 1,692 level next.</p><p class="MsoNormal" style="margin: 0 0 11px; font-family: Aptos, sans-serif; line-height: 104%; font-size: 15px;">ZCASH TECHNICAL ANALYSIS – 4 HOUR TIMEFRAME</p><p></p><p class="MsoNormal" style="font-family: Aptos, sans-serif; margin: 7px 0; line-height: normal; font-size: 15px;">On the 4 hour chart, we have an upward trendline defining the bullish momentum into the resistance. The buyers will likely continue to lean on the trendline, with a defined risk below it, to keep pushing into new highs. The sellers, on the other hand, will look for a break lower to pile in for a drop into the 1,031 support next.</p><p class="MsoNormal" style="margin: 0 0 11px; font-family: Aptos, sans-serif; line-height: 104%; font-size: 15px;">ZCASH TECHNICAL ANALYSIS – 1 HOUR TIMEFRAME</p><p></p><p>On the 1 hour chart, there’s not much we can add here as the buyers will continue to lean on the trendline to target new highs, while the sellers will wait for a break below the trendline or a rally into the resistance to position for new lows. The red lines define the <a href="https://investinglive.com/Education/trading-tip-know-the-average-daily-range-adr-20220207/" rel="follow" style="color: rgba(70, 120, 134, 1); text-decoration: underline;">average daily range</a> for today.</p><p class="MsoNormal" style="margin: 0 0 11px; font-family: Aptos, sans-serif; line-height: 104%; font-size: 15px;">UPCOMING CATALYSTS</p><p class="MsoNormal" style="margin: 0 0 11px; font-family: Aptos, sans-serif; line-height: 103%; font-size: 15px;"><a href="https://investinglive.com/EconomicCalendar" rel="follow" style="color: rgba(70, 120, 134, 1); text-decoration: underline;">Today</a>we conclude the week with the US NFP report and the University of Michigan Consumer sentiment survey.</p> This article was written by Giuseppe Dellamotta at investinglive.com.