Market Overview: ZENBTC on 2025-10-31

• Price opened at $0.00010804, reached a high of $0.00011714, and closed at $0.00011593 after volatile 24-hour movement.
• Strong buying pressure emerged after 15:00 ET, with a sharp rally pushing ZENBTC above key resistance levels.
• Total volume surged to 15,837.76 ZEN, while turnover hit $1.83 (ZENBTC), showing heightened activity in the final hours.
• Momentum remains elevated as RSI climbed above 60 and MACD crossed into bullish territory.
• Bollinger Bands expanded significantly during the late-day rally, indicating rising volatility.

Market Overview

On October 31, 2025, Horizen/Bitcoin (ZENBTC) opened at $0.00010804 at 12:00 ET and traded as high as $0.00011714 before settling at $0.00011593 at 12:00 ET the following day. The 24-hour session recorded a total volume of 15,837.76 ZEN and a turnover of approximately $1.83. The price action was defined by a late-day bullish breakout driven by sharp buying interest, particularly after 15:00 ET, when ZENBTC surged past key resistance levels around $0.000115 and $0.000116.

Structure & Formations

The ZENBTC pair displayed a classic bullish breakout on the 15-minute chart, with price forming a descending wedge pattern that resolved to the upside. Key support levels were observed at $0.000108 and $0.000106, with the latter showing strong rejections. A notable bullish engulfing pattern appeared at $0.00011260–$0.00011460, confirming a short-term reversal from bearish to bullish bias. Resistance levels were broken at $0.000115, $0.000116, and $0.000117, with the latter acting as a short-term ceiling.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages both trended upward through the session, with the 20-SMA crossing above the 50-SMA as a bullish signal. The 50-period MA served as a dynamic support, especially between 09:00 and 14:00 ET. Longer-term, the 50, 100, and 200-period daily MAs suggest a mildly bullish setup, with price comfortably above all three as of 12:00 ET.

MACD & RSI

The MACD crossed into positive territory during the late morning and remained above zero through the session, confirming a strong bullish momentum phase. The histogram peaked at 15:00 ET, aligning with the price’s sharp break above $0.000115. Meanwhile, the RSI climbed steadily, reaching above 60, indicating an overbought condition but with no immediate signs of exhaustion. The RSI divergence did not appear to pose a near-term reversal risk during the session.

Bollinger Bands

Volatility increased sharply as the Bollinger Bands expanded in the late afternoon hours. Price traded near the upper band for most of the session's last five hours, indicating strong upward momentum. The 15-minute chart showed a notable contraction earlier in the day, followed by a violent expansion, a classic setup for a breakout move. The widening of the bands supports the interpretation of a breakout rather than a pullback within a range.

Volume & Turnover

Volume surged during the breakout phase, with the largest single 15-minute bar recording 1,583.76 ZEN at $0.00011555–$0.00011593. Turnover confirmed the strength of the move, with notional value increasing in line with the volume spike. There were no significant divergences between price and volume, suggesting that the move is backed by strong institutional or large-cap investor participation.

Fibonacci Retracements

Fibonacci retracement levels were applied to the swing low at $0.000106 and the swing high at $0.00011714. The 61.8% retracement level fell near $0.000113, which ZENBTC traded above for most of the session. The 38.2% level was at $0.0001106, which acted as a minor support zone. The price held above the 61.8% level for most of the day, indicating a strong bullish bias.

Backtest Hypothesis

Given the strong bullish momentum and confirmed breakout pattern, a potential backtesting strategy could focus on a breakout system targeting ZENBTC at key resistance levels with a stop just below the prior swing low at $0.000106. The MACD and RSI confirmed the breakout’s legitimacy, and the volume surged in line with the move, supporting a high-probability trade setup. A 15-minute time frame could be used to capture intraday volatility, with a trailing stop to secure gains as the pair continues to trend higher.