ZEN cryptocurrency has been moving in a gentle falling channel for almost a year and is traded without much emotion. Trading volumes are low, local lows are updated rather lazily. The local ZEN price rebounds are also lazily organized. However, starting in January 2022, the situation began to resemble preparing the market for a reversal. In the weekly timeframe, we see that buyers were unable to take control of the $32 mark in January-February.

<img src="https://s3.tradingview.com/snapshots/q/QGM5bfEO.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/QGM5bfEO/" target="_blank" rel="nofollow noopener">https://www.tradingview.com/x/QGM5bfEO/</a>

In history, we see that in the range of this mark there was no significant accumulation of buyers positions. Unsuccessful attempts by sellers to break and fix below the $32 mark indicate local weakness and high chances of growth. The main condition for such a scenario is the successful closing of the weekly candle on 25 April. In the chart, we see that sellers have started a trading week to update the local low.

Though, in the $32 range, buyers resisted, creating a pin on the weekly timeframe. Of course, the trading week is not over yet. But, if the situation does not change, the beginning of the ZEN growth phase should be expected next week. This phase symbolically falls on May 2022. However, even a 70% increase in the ZEN price will not mean a global trend change. As long as the ZEN price is in a falling channel, the targets for potential growth waves will be modest.
<h2>Technical Analysis Of ZEN On The Daily Timeframe</h2>
<img class="alignnone" src="https://s3.tradingview.com/snapshots/j/jk4GHSKd.png" alt="ZEN" width="1386" height="791" />

<a href="https://www.tradingview.com/x/jk4GHSKd/" target="_blank" rel="nofollow noopener">https://www.tradingview.com/x/jk4GHSKd/</a>

Analyzing the movement of the ZEN price on the daily timeframe, we can see the weakness of sellers during the fall wave of 2 April. If the initial stage of the fall of the ZEN price from 2 to 6 April looked cheerful and dangerous , then every next inch of territory sellers gnawed in the fight. The problem is the reluctance of investors to sell cryptocurrency, which significantly weakens the downward trend. An interesting fact is that the buyers managed to break the seller's stop orders from 27 March to 2 April. Usually, such an event is accompanied by a sharp reversal of the price.

Though, we see that there is no power to reverse it. Buying ZEN in the $32 range is a pretty good solution for medium-term investment. But, it is worth waiting for sellers to try to update local lows over the next few days. In the case of maximum price slowdown by limiting orders from buyers - the risk of buying ZEN will be justified.
<h2>ZENBTC Price On The Verge Of Falling By 50%</h2>
<img src="https://s3.tradingview.com/snapshots/b/bJNQlqmD.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/bJNQlqmD/" target="_blank" rel="nofollow noopener">https://www.tradingview.com/x/bJNQlqmD/</a>

However, <a href="https://www.cryptoknowmics.com/news/zen-technical-analysis-will-buyers-surpass-the-50-mark/">ZEN</a> cryptocurrency should be traded only with a stop order. Why? Take a look at the weekly ZENBTC price chart. The price at the time of writing is in the liquidity zone of 0.00092. For several weeks now, sellers have been lowering the price without resistance in small steps to break this range. If buyers do not retain control over the range of 0.00092, we should expect a new strong growth wave to 0.000416.

ZEN Technical Analysis: A High Chance Of A 70% Rebound

Analyzing the movement of the ZEN price on the daily timeframe, we can see the weakness of sellers during the fall wave of 2 April.

Peter came to know about cryptocurrencies in 2017 and was instantly enamoured by their massive potential. As he gained more insights about the crypto market, he began writing about it. Peter's daily activity is analysis and forecasting, studying the price movements probabilities, and trying to understand the market inside. He is glad to witness such a phenomenon as cryptocurrency and decentralized finance, and to participate in it.

ZEN Technical Analysis: A High Chance Of A 70% Rebound

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