bullish

Equilibrium

Horizen

Coin

<p>The world’s most significant node source is provided with a distinct zero-knowledge network’s enhanced blockchain, the <a href="https://www.thecoinrepublic.com/price-prediction/horizen/">Horizen</a>. The Zendo protocol supports the latter’s interoperability.&nbsp;</p> 
<p><strong>ZEN </strong>is Horizen’s native crypto asset, a mineable P-o-W coin that showed a breakout in the past few sessions. However, a breakout retest pattern was spotted, and the token reached the neckline mark of $10 this week.</p> 
<p>Since June 2024, it has traded under the bullish influence and showed a massive upsurge, recording a range breakout. Last week, a profit booking move was noted, and the token retested the key 200-day EMA support zone.</p> 
<p>Still, the short-term trend was bullish, and the token revealed the buying pressure. When writing, the <strong>ZEN token</strong> traded at $10.15 with an intraday gain of 6% and a weekly gain of 10%.</p> 
<h2 class="wp-block-heading" id="h-can-horizen-zen-go-beyond-the-13-mark-this-month"><strong>Can Horizen (ZEN) Go Beyond the $13 Mark This Month?</strong></h2> 
<p>Despite a significant one-sided vertical upmove, the <strong>ZEN price</strong> faced a temporary cluster of $13 and returned from there. In contrast, the higher high swing was still intact, and the token targeted a next bullish leg up above the $13 mark.</p> 
<p>It revisited the 200-day EMA support zone and formed a reversal pattern. A doji followed by a bullish candle conveyed the short-term reversal was intact.</p> <iframe loading="lazy" title="Santiment Chart: Price (ZEN), Volume (ZEN)" width="800" height="425" src="https://embed.santiment.net/chart?ps=aleph-zero&amp;pt=AZERO&amp;df=2024-02-23T00%3A00%3A00.000Z&amp;dt=2024-08-01T18%3A29%3A59.271Z&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bprice_usd%3Bzencash%3BZEN%5D%3B%5B1%3Bvolume_usd%3Bzencash%3BZEN%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe> 
<p>Once the ZEN price crosses the $12 mark, it can go toward the $13 mark and also beyond it. If it breaks the $10 mark, the view will be invalidated.</p> 
<p>On the traditional indicator front, the RSI curve hovering around the midline region had a reading of 48. It showed neutral projections.</p> 
<p>However, the MACD indicator started plotting the green bars, and a bullish crossover was formed on the histogram.</p> 
<p>@Stubnubgob, in his tweet, said that the accumulation zone is near the $10 mark. He also mentioned that shorting should be avoided before halving.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Accumulating <a href="https://twitter.com/search?q=%24ZEN&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ZEN</a> in this triangle before the halving in 134 days.<br><br>Avg $9.79 if you are shorting this I am buying this. <a href="https://t.co/BzVktcTA9p">pic.twitter.com/BzVktcTA9p</a></p>— ˢᵗᵘᵇⁿᵘᵇ (@Stubnubgob) <a href="https://twitter.com/Stubnubgob/status/1818290468565721112?ref_src=twsrc%5Etfw">July 30, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<h2 class="wp-block-heading" id="h-what-do-on-chain-metrics-reveal"><strong>What Do On-Chain Metrics Reveal?</strong></h2> 
<p>The weighted sentiment data showed a slight upmove and crossed the zero line, which was noted at 0.003137. It directed a bullish stance.</p> <iframe loading="lazy" title="Santiment Chart: Weighted sentiment (Total) (ZEN), Price Volatility 1d (ZEN)" width="800" height="425" src="https://embed.santiment.net/chart?ps=aleph-zero&amp;pt=AZERO&amp;df=2024-02-23T00%3A00%3A00.000Z&amp;dt=2024-08-01T18%3A29%3A59.271Z&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bsentiment_volume_consumed_total%3Bzencash%3BZEN%5D%3B%5B1%3Bprice_volatility_1d%3Bzencash%3BZEN%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%3B" scrolling="no"></iframe> 
<p>Its price volatility data showed a dip and remained flat in the intraday session at 0.018. This conveyed a decline in the speculation among the investors.</p> 
<h2 class="wp-block-heading" id="h-total-liquidity-was-at-an-equilibrium"><strong>Total Liquidity Was at an Equilibrium</strong></h2> 
<p>Amid the futures price increase, the liquidity data showed that the fight between the bulls and bears continues.</p> 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="286" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-28-1024x286.png" alt="Total Liquidation Data | Source: CoinGlass" class="wp-image-642205" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-28-1024x286.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-28-300x84.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-28-768x215.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-28-150x42.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-28-696x195.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-28-1068x298.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-28.png 1399w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
  Total Liquidation Data | Source: CoinGlass
 </figcaption>
</figure> 
<p>The token’s short liquidations were noted at $43k at press time. Meanwhile, the long liquidations were noted at $70k, which is around an equal weightage between the bears and bulls.</p> 
<p>This means that, due to unclear direction, volume-based buying could affect investors. They need to keep an eye on it for a confirmed move.</p> 
<p>If the token gains momentum and initiates a recovery, its bullish leg will be extended toward the upside mark of $13. It would be followed by $14 soon. Meanwhile, the bearish price movement might drag the price to $9.20 and $8.50.</p> 
<p>The <strong>ZEN price</strong> rebounded from its 200-day EMA mark and displayed signs of a bullish rebound on the chart. Once it exceeds the $13 mark, a sharp one-way rally toward the $15 mark can be seen ahead.</p> 
<p>The post <a href="https://www.thecoinrepublic.com/2024/08/02/zen-retested-10-mark-could-it-trigger-a-turnaround-ahead/">ZEN Retested $10 Mark: Could It Trigger a Turnaround Ahead</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

ZEN Retested $10 Mark: Could It Trigger a Turnaround Ahead

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