ZEN's $9.68 Support: Holding Strong or Triggering Downside?

Horizen (ZEN) has experienced a sharp correction, drawing attention to its fragile market structure and key support levels. As of October 15, 2025, ZEN trades at $12.80, with a market capitalization of $229.46 million. Recent technical analysis highlights a critical juncture for the asset, as traders monitor support zones to gauge the likelihood of a sustained recovery .

The cryptocurrency's price action reflects a bearish trend over the past six months, with a 55.94% decline from its peak. However, short-term indicators suggest potential stabilization. The 50-day simple moving average (SMA) stands at $12.05, while the 200-day SMA is projected to reach $9.79 by November 14, 2025 . These metrics underscore a narrowing gap between short- and long-term price momentum, a pattern often associated with consolidation phases. The Relative Strength Index (RSI) at 63.33 indicates a neutral market sentiment, avoiding overbought or oversold extremes .

Key support levels are critical for ZEN's near-term outlook. The strongest support is identified at $9.68, followed by $10.64 and $11.52 . A break below $9.68 could trigger further downside, potentially testing the 200-day SMA. Conversely, a rebound above these levels might validate a bullish turnaround, aligning with price prediction models. CoinCodex forecasts a 13.17% rise to $14.76 by November 14, 2025, driven by a favorable Fear & Greed Index reading (34, indicating fear) and a 15.28% potential return over five days .

A structural shift is also underway. Binance announced support for the ZEN contract swap on July 21, 2025, suspending deposits and withdrawals during the transition . This event, part of Horizen's migration to Base (an Ethereum Layer 2), aims to enhance liquidity and interoperability. While the swap is expected to minimize disruptions, the suspension of old ZEN transfers could temporarily impact market dynamics.

Longer-term forecasts remain optimistic. By 2030, ZEN is projected to reach $25.65, reflecting a 96.72% increase from current levels . These predictions hinge on Horizen's integration of zero-knowledge proofs and decentralized privacy infrastructure, which position it as a scalable solution for privacy-focused applications .