ZEN's prices are on temporary pullbacks in the midst of a bullish trend. The Horizen blockchain ecosystem is a highly secure network that helps you safeguard your <a href="https://www.cryptoknowmics.com/news/bitcoin-minings-carbon-footprint-higher-than-argentina-and-norway-cambridge-university/">digital footprints</a>. All cryptocurrency transactions are end-to-end encrypted on this network. ZEN is the customized token of the Horizen blockchain.
<h2><b>ZEN's Past Performance</b></h2>
As of March 1, 2021, the opening price of ZEN was $41.84. As of March 7, 2021, the closing price of ZEN was $50.37. Thus, the ZEN price has risen by roughly 20%. In the last 24 hours, ZEN has traded between $43.70 - $55.36.

<img class="alignnone wp-image-189920" src="https://www.cryptoknowmics.com/news/wp-content/uploads/2021/03/ZEN8thMar-300x192.png" alt="ZEN Price Analysis" width="811" height="519" />

<a href="https://www.tradingview.com/x/K3z7BYGJ">https://www.tradingview.com/x/K3z7BYGJ</a>
<h2><b>Day-Ahead and Tomorrow</b></h2>
Today, ZEN started trading at $50.37. Presently, ZEN is trading at $53.47. Thus, the ZEN price is on an uptrend.

For the past one hour, the <strong>RSI indicator</strong> is above 70% in the ‘overbought’ region. Thereafter, it has started falling. This is the right time for swing traders to go short. Presently, the RSI indicator is at 56%. We can expect some temporary price pullbacks amidst a bullish trend.

The <strong>A/D indicator</strong> is rising steeply. Thus, whale accumulations have surpassed whale distributions. Thus, there is a positive divergence here. The bullish trend is strong and any price pullback is just a corrective action that will not last long.

The <strong>MACD and signal lines</strong> are positive too. Besides, a bullish crossover by the MACD line over the signal line has occurred. Thus, the bulls are very strong, and we can expect the price to rise further.
<h2><b>ZEN Bullish Pullbacks Analysis</b></h2>
At present, the ZEN price is well above the Fibonacci pivot point of $49.81. It is moving closer to the first Fibonacci pivot resistance level of $54.26 and may break out of it soon.

Presently, the ZEN price is testing the 23.6% FIB retracement level of $52.61. By the end of the day, we can expect the ZEN price to breach the subsequent Fibonacci pivot resistance levels of $57.01 and $61.47 respectively. The bull-run is strong enough to continue tomorrow.

ZEN on Temporary Pullbacks Amidst a Bullish Trend - Technical Analysis

ZEN price on temporary pullbacks in the midst of a bullish trend and it is the customized token of the Horizen blockchain.

Ankita is reading geek by birth, she loves to read and write about finance and now cryptocurrencies and blockchain since 2017. A Bitcoin enthusiast ever since, she likes to understand businesses and how they affect everything else. Ankita contributes on our news bulletin with the latest happening in blockchain, crypto and ICO market specifically.

ZEN on Temporary Pullbacks Amidst a Bullish Trend - Technical Analysis

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