Horizen is a highly secure end-to-end encrypted blockchain network with a robust node infrastructure. ZEN is the native token used on this interoperable blockchain ecosystem. Past Trends On March 8, 2021, the opening price of ZEN was $50.34. As of March 14, 2021, the closing price of ZEN was $53.10. In short, the ZEN price has surged by roughly 5.50% in the past week. In the last 24 hours, the ZEN price has fluctuated between $48.55 and $57.44. https://ift.tt/3trbFdw Day-Ahead and Tomorrow Currently, ZEN is trading at $50.61. The price has fallen from the opening price of $53.09. Thus, the market is downtick. The MACD and signal lines are negative. However, the MACD line has crossed over the signal line from below. Thus, we can expect a price rise amidst an overall bearish momentum. The RSI is presently at 45%. The RSI faced a bearish swing rejection at 55% and fell to the current level. Thus, selling pressures are high and we can expect a price pullback. Thus, the price will go down further. Watch out for the next 4 to 8 hours to understand the movement of intensity downwards. The OBV indicator has fallen sharply. Thus, selling volumes are much higher than buying volumes. High distribution activity in the ZEN market will exert downward pressure on the ZEN price. Thus, all oscillators have pointed towards a price pullback. ZEN Price Analysis Currently, the price is below the Fibonacci pivot point of $53.03. It is inching closer to the first support level of $49.63, as the bearish market trend is strong. The price has tested and fallen below the 23.6% FIB retracement level of $50.64. Thus, the bears are strong and if the price does not retest and break out of the 23.6% FIB retracement level by the end of the day, then probably a price downtrend has set in. In that case, the price downtrend will continue tomorrow as well.
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