web3: Zcash rises by more than 8 per cent and markets focus on the $550 resistance position

Zcash token ZEC strong within weeks, with a single-day increase of over 8 per cent, in front of the shock market. The market is now concerned about the upgrading of the Ironwood network, which will be on line this month, and whether the price can go further on the $550 line.

Ironwood upgrades the expected warming.

The main factor driving the current round is the expected warming of the market for the Ironwood upgrade. According to reports, this upgrade will be on line later this month and will be seen as an update of Zcash ' s more important agreement in recent years.

The upgrade included the enhancement of privacy and the phasing out of the old Orchard shield after previously disclosed loopholes. It was also mentioned that the update would promote the formalization of agreements closer to certification, thus improving cybersecurity and long-term confidence.

Social heat is not zoomed in.

For markets, the focus of transactions is shifting from past security concerns to future network improvements. This change has led to a partial buyback and has brought back to the attention of the diluted ZEC.

ZEC's high level of social activity was reported to have occurred in early June, when prices were still at a low stage. Since then, currency prices have risen significantly, but social discussions have not been accompanied by significant warming.

There's a resistance near $550.

This phenomenon is often interpreted as not being driven exclusively by short-term sentiment for the time being, but more like a more stable absorption of funds. If subsequent prices continue to rise and social discussions increase, market heat may spread further.

From the price position, $550 near is considered the next main resistance. The region had previously been an important anchor, reverting to the upper pressure; the lower one would focus on the $455 to $460 area.

If the price breaks effectively $550, the market may look further between $650 and $700. According to the report, as long as prices remained above $455 to $460, the current rebound structure remained intact.