Horizen is a highly secure and tamper-proof interoperable blockchain network that aims to solve real-world problems using digital currencies. It has the largest and highly decentralized node infrastructure. End-to-end encryption of digital transactions, PoW (Proof of Work) based mainchain, and PoS (Proof of Stake) based side chains are other striking features of this network. ZEN is the native token of this ecosystem. The following ZEN technical analysis will predict the price trends for the next few days: Past Performance On May 1, 2021, ZEN started trading at $120.37. On May 7, 2021, ZEN closed at $146.39. Thus, in the past week, the ZEN price has surged by roughly 22%. In the last 24 hours, ZEN has traded between $139.26-$166. https://ift.tt/2SD917d Day-Ahead and Tomorrow Currently, ZEN is trading at $153.20. The price has increased from the day’s opening price of $146.51. Thus, the market seems to be uptick. The MACD and signal lines are positive. A bullish crossover by the MACD line over the signal line has also occurred. Thus, the overall market momentum is bullish. However, both the lines are very close to the zero line and hence may change signs soon. Thus, a trend reversal may be on the anvil. Currently, the RSI indicator is at 71% in the ‘overbought’ territory. Thus, the buying pressures are very high. Heavy demand for ZEN will push its price upwards. Thus, as of now, both the RSI and MACD oscillators are pointing to a positive price trend. The OBV indicator is also steadily rising. Thus, buying volumes are higher than selling volumes. Hence, the OBV indicator is giving further credence to a bullish price trend shown by the other oscillators. ZEN Technical Analysis The price is soon likely to break out of the first Fibonacci pivot resistance level of $160.80. By day end, we can expect the price to break out of the subsequent resistance levels of $167.11 and $177.33, respectively. Currently, the price has tested and fallen below the 23.6% FIB retracement level of $159.69. It may soon fall below the 38.2% FIB retracement level of $155.78 as well. The ZEN market is in a price correction phase and by day end, we can expect the price to retest and break out of these levels. In short, we can expect the positive trend to continue today and tomorrow.
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