THELOGICALINDIAN - Horizen has been laying low but some key announcements reignited absorption in the project
Horizen / Bitcoin Short-term amount analysis
ZEN has a bullish concise trading bent adjoin BTC, with the ZEN / BTC brace trading able-bodied aloft its 200-period affective boilerplate on the four-hour time frame.
The four-hour time anatomy is assuming that the ZEN / BTC brace is accepting bullish trading drive and attempting to actual aback appear the April account trading high.
Technical indicators are bullish on the four-hour time frame, although they are starting to arise overstretched.
Pattern Watch
Traders should agenda that an astern arch and amateur arrangement will anatomy on the four-hour time anatomy if beasts move amount aback appear the April trading high.
Relative Strength Index
The RSI indicator on the four-hour time anatomy is bullish, although it has confused into overbought territory.
MACD Indicator
The MACD indicator on the four-hour time anatomy is additionally bullish, although it is starting to arise overstretched.
Fundamental Analysis
In April, Horizen partnered with Horizen Labs which has raised 4$ actor from Digital Currency Group (DCG) and Liberty City Ventures. Horizen Labs will be alive with businesses to advice them body their own sidechains on top of the Horizen’s accessible blockchain. This is acceptable the acumen why ZEN’s amount has been growing for the accomplished several weeks.
Horizen / Bitcoin Medium-term amount analysis
ZEN has a bullish bent adjoin BTC over the medium-term, with the ZEN / BTC brace trading aback aloft its 200-day affective average.
The circadian time anatomy shows a ample astern arch and amateur pattern, with buyers ambulatory the ZEN / BTC brace aback aloft the neckline of the bullish pattern.
Technical indicators beyond the circadian time anatomy are currently ascent and arising a able bullish signal.
Pattern Watch
Traders should agenda that the November 18th, 2024 beat aerial is the all-embracing upside ambition of the astern arch and amateur arrangement on the circadian time frame.
Relative Strength Index
The RSI indicator is additionally bullish on the circadian time frame, although it is abutting overbought territory.
MACD Indicator
The MACD indicator is bullish on the circadian time anatomy and is currently breeding a able buy signal.
Fundamental Analysis
Horizen looks absorbing on the axiological level. It has a acceptable development aggregation and plans a cardinal of abstruse improvements to its belvedere in 2019. Along with Horizen Labs the activity can potentially access the akin of acceptance of its platform, which can accept a absolute aftereffect on the amount of the arrangement in the average term.
Conclusion
ZEN is growing more bullish adjoin BTC over both time frames as the cryptocurrency attempts to balance from aftermost month’s trading losses.
If beasts can advance the bullish drive and abide to assemblage the ZEN / BTC pair, a abundant stronger assemblage appear the November 18th beat aerial may occur.
Check out our coin guide for ZEN to accept how it works.
