ZEN holds bullish structure above key EMAs as consolidation signals balance, not weakness
Open interest expansion without price surge hints at positioning ahead of a decisive move
Spot flows cooled after breakout, showing accumulation paused as trend structure holds
Horizen’s ZEN token continues to attract attention after a strong rebound reshaped its short-term market structure. On the four-hour chart, ZEN shows a clear bullish setup following a sharp impulse move that pushed price beyond critical technical levels.
Consequently, traders now focus on whether the ongoing consolidation signals strength or exhaustion. The current pause below resistance reflects balance rather than weakness, as buyers defend higher levels. Market data suggests momentum remains constructive, although confirmation still depends on follow-through above nearby resistance zones.
Bullish Structure Holds Above Key Averages
ZEN’s recent breakout changed the tone of the market. Price moved decisively above the former consolidation range and reclaimed the 0.618 Fibonacci level near $11.32. Significantly, ZEN now trades above the 20, 50, 100, and 200 exponential moving averages. This alignment often reflects strong directional momentum.
Additionally, the Supertrend indicator continues to signal bullish conditions, reinforcing upside bias. Hence, the broader structure favors continuation while price holds above key supports. However, consolidation near resistance suggests the market awaits fresh participation before choosing direction.
ZEN Price Dynamics (Source: Trading View)
The immediate focus rests on the $12.40 to $12.50 zone. ZEN currently tests this area after its recent advance. A clean four-hour close above $12.50 could confirm acceptance and expose the $13.90 region. This level aligns with the full Fibonacci extension and represents the next major upside objective.
On the downside, initial support sits near $11.98 to $12.00, which marks the breakout retest area. Moreover, the $11.32 level remains critical for maintaining trend integrity. A deeper pullback could revisit $10.50 or even $9.72, where prior demand emerged.
Derivatives and Spot Flows Add Context
Source:Coinglass
Open interest data provides additional insight into trader behavior. After a prolonged compression phase, open interest expanded steadily toward $67 million. Importantly, price has not accelerated aggressively alongside this rise. This divergence suggests new leverage positioning ahead of a directional move rather than late-cycle speculation.
Source: Coinglass
Additionally, spot flow data reveals a shift in behavior. Strong inflows accompanied the breakout, signaling accumulation. However, subsequent outflows capped upside momentum and reinforced consolidation. Recently, flows stabilized near neutral, reflecting reduced conviction on both sides.
Technical Outlook for Horizen (ZEN) Price
Key levels remain well-defined for Horizen as price consolidates following a strong bullish impulse.
Upside levels sit at $12.40–$12.50 as the immediate resistance zone. A confirmed breakout above this range could extend gains toward $13.90, which aligns with the 1.0 Fibonacci extension and marks the next major upside objective.
On the downside, initial support rests at $11.98–$12.00, which represents the breakout retest area. Holding this zone remains critical for short-term trend stability. Below that, $11.32 stands out as the 0.618 Fibonacci level and a key structure support.
Additional downside levels include $10.50, tied to the 0.5 Fibonacci retracement and prior consolidation, followed by $9.72, which marks deeper trend support near the 0.382 Fibonacci level.
The technical picture suggests ZEN is compressing below resistance after a decisive breakout, rather than showing signs of exhaustion. Price continues trading above major moving averages, reinforcing bullish momentum. This consolidation phase often precedes volatility expansion, especially when supported by rising participation.
Will Horizen Move Higher?
Horizen’s near-term price direction hinges on whether buyers can defend the $11.30–$12.00 zone while building pressure against resistance. If bullish momentum strengthens alongside stable inflows and rising open interest, ZEN could challenge $12.50 and push toward $13.90.
However, failure to hold the breakout area would weaken structure and expose $10.50 and lower levels. For now, Horizen remains in a pivotal zone, with momentum favoring buyers as long as key supports remain intact.
