In the technical analysis of  ZEN today we will understand the ongoing trends related to price performance, Horizen is an <a href="https://www.cryptoknowmics.com/news/zen-on-temporary-pullbacks-amidst-a-bullish-trend-technical-analysis/">open-source blockchain</a> network with a robust decentralized node infrastructure. It has PoS (Proof-of-Stake) sidechains and PoW(Proof-of-Work) mainchains with end-to-end encryption. Thus, it is a highly secure ecosystem for digital currency transactions. ZEN is the prime governance token of this network.
<h2><b>Past Performance</b></h2>
On April 9, 2021, ZEN started trading at $73.04. As of April 15, 2021, ZEN closed at $108.78. Thus, in the past week, the ZEN price has surged by approximately 49%. In the last 24 hours, ZEN has traded between $106.49 - $115.99.

<img class="alignnone wp-image-193950" src="https://www.cryptoknowmics.com/news/wp-content/uploads/2021/04/ZEN-300x182.png" alt="ZEN Price Analysis" width="691" height="419" />

<a href="https://www.tradingview.com/x/2Zx4W5um/">https://www.tradingview.com/x/2Zx4W5um/</a>
<h2><b>Day-Ahead and Tomorrow</b></h2>
Currently, ZEN is trading at $111.20. The price has increased from the opening price of $108.80. Thus, the market looks bullish.

The <strong>MACD and signal lines</strong> have turned negative. Moreover, a bearish crossover by the MACD line over the signal line has occurred. Thus, the overall market momentum is bearish. Hence, we can expect the price to start declining.

The <strong>OBV indicator</strong> has fallen steeply. Thus, selling volumes are much higher than buying volumes. Heavy sell-offs will exert downward pressure on the ZEN price. Hence, we can expect the price to drop further.

Currently, the <strong>RSI indicator</strong> is at 47%. It faced rejection at 34% and rose to the current level. Thus, buying pressures are gradually building. Thus, we can expect the price to rise further.
<h2><b>ZEN Technical Analysis</b></h2>
At present, ZEN is trading above the Fibonacci pivot point of $110.42. As some oscillators have shown a price pullback, we can expect the price to fall till the pivot point before resuming its upward journey. It may even fall up to the first support level of $106.79 before starting to rise again.

The price is soon likely to fall below <strong>61.8% FIB retracement level</strong> of $110.12. In a few hours, if the price falls below <strong>138.2% FIB retracement level</strong> of $102.86, then probably a downtrend has set in. In that case, we can expect a price downswing tomorrow as well.

ZEN Technical Analysis - ZEN is trading above the Fibonacci pivot point of $110.42

As per the technical analysis, If ZEN price falls below 138.2% FIB retracement level of $102.86, then probably a downtrend has set in. A price downswing is expected tomorrow as well.

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 Technical Analysis - ZEN is trading above the Fibonacci pivot point of $110.42

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