The price of ZEN cryptocurrency hits a new high. Can it rise further in the future?
Horizen (ZEN) has been popular in the past week, soaring 190.97%, setting a new high in 32 months!
As demand rises, ZEN cryptocurrency is like a rocket, rising 190% in a week!
Judging from the market situation, Horizen is in a good time to rise and may continue to rise.
This week, Horizen (ZEN) has soared from a low of $13.64 to a high of $49 yesterday. It has not been so high in 32 months!
This wave has risen by 190.97% in seven days.
Looking at the daily line, ZEN jumped from $38 to $49, an increase of 28.95%. But it fell back a little later. When writing this article, the price was $42.
And, this month, ZEN has also risen by 255.29%.
What everyone is concerned about now is whether Horizen's momentum can continue?
Take a look at the chart of the ZEN cryptocurrency
AMBCrypto's analysis says that buyers are now very active and the price of ZEN is rising sharply.
Buyers dominate the market, which can be seen from the relative strength index (RSI), which was 51 last week and is now almost 90. This shows that buyers are powerful and the market is firmly controlled by them.
Long positions are also surging, and the market is bullish.
AMBCrypto checked the data of Coinglass and found that long positions accounted for 52%. Everyone thinks Horizen can still rise.
The RSI MACD line also proves this. A week ago, there was a bullish crossover, and now it has soared to 5.8.
In addition, Horizen's open interest per exchange has also increased from US$9 million to US$58.1 million. This shows that investors are actively trading and opening new positions.
With the increase in long positions, Zen's upward prospects are brighter.
To learn more about Horizen (ZEN) price predictions, check out the trend in 2024–2025!
In short, Horizen is now in an uptrend, buyers dominate the market, and prices are expected to continue to rise.
If this momentum can be maintained, Zen will not only return to $49, but may also hit $52.9. Of course, after the market adjusts, the price may also fall back to $36.9.
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