Zcash Rallies on Iran Deal Hopes Before FOMC Decision
ZEC extended gains as US-Iran talks lifted risk sentiment, but the Fed and a key resistance level at 1,380 will decide what happens next.
Zcash caught a bid after reports surfaced that Iran's security chief met with Supreme Leader Khamenei, stoking optimism around a potential US-Iran deal. That geopolitical tailwind pushed risk appetite higher across crypto, and ZEC rode the wave. But don't get too comfortable — any breakdown in those talks could flip the move just as fast.
There's also a technical catalyst quietly building. The NU7 network upgrade, targeted for early November, is set to slash block times from 75 seconds down to 25 and overhaul the fee structure. Traders may already be pre-positioning for it. That said, ZEC-specific news only carries so much weight — the macro tape is still running the show.
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Today's FOMC decision is the real boss-level event. The Fed is widely expected to hold rates steady, and there's no dot plot or fresh projections on the docket. All eyes land on Fed Chair Warsh's tone. If he sounds hawkish, growth fears could crush the ZEC rally fast. A neutral hold that keeps tightening off the table? That's your green light for a relief run.
On the charts, ZEC is closing in on stiff resistance near 1,380. Sellers are likely to defend that zone hard, targeting a flush back to the 1,031 support if the level holds. Bulls need a clean break above 1,380 to open up the next target at 1,692. An upward trendline on the four-hour is keeping bullish momentum intact for now — a break below it would be the first real warning sign.
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