Horizen (ZEN) has been making waves in the crypto market with an explosive surge of 229% over the past month, currently trading at $26.93. The privacy-focused blockchain platform has seen its market cap soar past $423 million, with extraordinary 24-hour trading volume exceeding $712 million – representing a staggering volume-to-market cap ratio of 173%.
Another particularly interesting point to note is that ZEN just reached its yearly high of $29.76 a few hours ago, marking a remarkable recovery from its yearly low of $6.03. This recent price action has put ZEN firmly on traders’ radar.
Horizen’s final halving sparks rally as tokenomics revolution approaches
The completion of Horizen’s second and final halving on December 12 has greatly contributed to the bullish momentum ZEN gathered in the past month. The upcoming transition to a smoothly declining emission rate in 2025 represents a sophisticated approach to tokenomics, potentially attracting institutional interest and long-term holders. The platform’s dedication to this cause is further evidenced by its recent deployment of Horizon 2.0 Devnet.
The recent listing on Gains Network and Grayscale’s launch of Horizen Trust, offering qualified investors institutional-grade exposure to ZEN, add significant layers of value proposition. These developments and the project’s strategic pivot towards ZK technology and privacy solutions align perfectly with current market narratives.
ZEN price analysis
From the chart below, it is clear that the key indicators point to a strong bullish momentum for the token following its final halving event. The technical chart reveals the ZEN coin trading at approximately $26.93, having established a robust support level of around $22.50. The price has been forming a clear ascending channel, with the upper resistance level currently testing the $27.00 mark.
The Relative Strength Index (RSI) is hovering around 57.37, indicating moderate bullish momentum without entering overbought territory (typically above 70). This suggests there’s room for potential upward movement before any significant correction occurs.
Additionally, the ZEN MACD indicator shows a positive divergence with readings of 0.848, 0.561, and -0.287 for the MACD line, signal line, and histogram, respectively, reinforcing the bullish sentiment in the market.
Monthly Trading Chart For ZEN
Trading Outlook
From a trading perspective, the current price action suggests a potential upward trend continuation. The key resistance level to watch is the $27.50 mark, where a successful breakthrough could trigger a new leg up towards the $30.00 psychological level. However, traders should endeavor to watch for movements around the $22.50 support level, as any breakdown below this point could invalidate the bullish thesis.
The volume profile shows increasing participation during upward moves, suggesting genuine buyer interest rather than speculative activity. This technical strength, along with key ecosystem developments, presents a convincing case for traders looking to capitalize on the potential long-term value appreciation of ZEN.
Consequently, the implementation of the new tokenomics model in 2025 could serve as a major catalyst for price discovery, particularly if the broader crypto market maintains its bullish momentum.
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