Huobi x CoinMarketCalA Coin To Keep An Eye On -ZEN!

This article was first published on Huobi Group - Medium

🔹What is ZEN?

Horizen (ZEN) is an inclusive ecosystem built on its massively scalable blockchain platform where everyone is empowered and rewarded for their contributions.

🚀Grab Your Bonus

📅 Upcoming Event:


🔹Halving ETA date: 12/2/2020 from!

Nov 30th — Daily — 3:33 EST

📈 Analysis

After blasting through August’s significant swing high, it comes as no surprise that ZEN is consolidating at the end of its 330% move. The price is presently chopping through the level formed by February 2020’s swing high.

However, bulls quickly bought each drop toward support at $10.72. Another test of this support level, which also shows an inefficient gap on the daily chart, could give bulls a reasonable entry.

More aggressive bulls could anticipate a bounce from the previous swing high at $11.63. However, the next support is far below and near the monthly open — making risk management especially important for recent entries.

Fresh or holding bulls could look for a first target near the current resistance at $18.54. A second target could be the old highs near $23.41, potentially reaching up to the next significant resistance at $28.94.

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