$ZEN (Horizen) – Market Update
$ZEN is currently under pressure, with a 3–10% decline in the last 24 hours, accompanied by falling trading volume. This move appears to be driven by profit-taking, rising Bitcoin dominance, and capital rotation away from altcoins.
Short-term view:
Momentum remains weak and volatility is elevated. The $10.75 – $10.40 zone is a key support area. A break below this range could lead to further downside.
Positive signals:
On the 4H chart, the structure is not fully broken. The 50-period moving average is trending upward, and several indicators still reflect a bullish bias. The slight 7-day gain also suggests potential for a short-term bounce.
Overall outlook:
ZEN is short-term bearish to neutral, but a recovery remains possible if key support holds and Bitcoin stays stable. Proper risk management is essential.
Key levels in focus.
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