The price of Horizen (ZEN) after the halving will depend on many factors, including market conditions, demand for the coin, and the overall state of the cryptocurrency market. Historically, halvings have often led to price increases due to the reduction in the supply of new coins. Here is an analysis based on available data and historical patterns:
For 2024, analysts predict moderate short-term price fluctuations for Horizen in the range of $6 to $10. However, in the longer term, by 2025 or 2026, a significant increase in value is expected if Horizen’s privacy and scalability solutions continue to grow in popularity.
With these updates, if market conditions improve and adoption of sidechain-based solutions accelerates, ZEN could see significant growth. The predicted price range for late 2024 is $15 to $30, especially if the overall cryptocurrency market is bullish. $BTC $ETH $ZEN
ZEN is currently trading at $16.89, up 6.76%, after reaching a 24-hour high of $18.11. A strong bounce off lower levels indicates growing bullish momentum.
Key Levels to Monitor:
Resistance: $18.11 – A breakout above this could push ZEN toward $19.50, $20.80, and $22.00.
Support: $15.90 – Holding above this level is crucial to sustain upward momentum.
Trade Setup:
Long Entry: Above $17.00, targeting $18.50, $20.00, and $22.00, with a stop loss at $16.00.
Short Entry: Below $15.90, targeting $15.00, $14.50, and $13.90, with a stop loss at $16.50.
Stay sharp as volume surges – ZEN could see significant volatility!
The chart displays the price movement of Horizen #ZEN one month before and after the previous halving in 2020 and the forecast for the next halving in December 2024.
Data for the previous halving (2020):
1. November 15, 2020 (~1 month before the halving): The price was $5.0 — the initial stage of growth. 2. December 1, 2020 (2 weeks before the halving):