🚀 Analysis $ZEN (4H): Uptrend combined with L2 Base news!
ZEN is making very noteworthy moves on both the chart and fundamental news.
📰 Hot News: ZEN Officially on Base L2
Horizen has completed the transition process, converting the ZEN token to ERC-20 and officially launching on the Base mainnet (Layer 2 of Ethereum).
👉 This opens the door to access liquidity, the vast DeFi ecosystem of Base, and leverages Coinbase's compliant infrastructure, creating a new platform focused on secure and privacy-native DeFi. This is a strong catalyst for ZEN's long-term growth.
📈 Technical Analysis (4H)
The 4H chart confirms the market's positive reaction to this news:
- Structure Reversal: After a deep decline, ZEN has confirmed a new short-term bullish structure.
- Volume Spike: Recent trading volume (the green circled area) is surging with overwhelming green candles, indicating that capital is flowing in very actively.
- Testing Resistance: The price is currently retesting the important supply zone $10.30 - $10.70.
⭐ Key Points & Scenarios
- If Breakout: A solid close above $10.70 will be a strong confirmation for the uptrend, paving the way for the next target in the $11.50 - $12.00 range, and then to a larger supply area at $12.50+.
- Safe Support: The $8.50 - $9.00 zone will be an important support to maintain this uptrend.
*** In summary: With support from news & clear reversal signals on the chart, ZEN has entered an exciting phase. Keep a close watch on price reactions in the $10.5 ~ 10.8 range.
I analyzed the signal $ZEN breaking out of the trendline here:
