Horizen Market Overview: 24-Hour Technical Summary for ZENUSDT

• Horizen (ZENUSDT) closed at 9.40, down from 9.98 at 12:00 ET-1, with bearish momentum evident in 15-minute candle patterns.
• A sharp sell-off below key support at 9.84 and a bearish engulfing pattern signaled increased bearish sentiment.
• Volatility spiked with a 3.6% range during the 15-minute chart, but volume failed to confirm the strength of the move.
• RSI hit oversold territory below 30, suggesting possible short-term buying interest.
• Bollinger Bands showed a recent expansion, indicating rising uncertainty in the market.

Horizen (ZENUSDT) opened at 9.98 on 2025-07-21 at 12:00 ET-1, reached a high of 10.29, a low of 9.15, and closed at 9.40 by 12:00 ET on 2025-07-22. The 24-hour volume was 1,065,787.63, and notional turnover amounted to $9,645,715.19.

Structure & Formations

The 15-minute OHLCV data revealed a bearish reversal pattern as the price broke below a key support level at 9.84, followed by a bearish engulfing candle. A potential support zone formed between 9.39–9.42, with 9.15 acting as a stronger floor. A doji appeared near 9.40, signaling indecision and potential consolidation.

Moving Averages

On the 15-minute chart, the price closed below both the 20 and 50-period moving averages, reinforcing the bearish bias. On the daily chart, the 50-period MA sits at 9.65, while the 200-period MA is at 9.49, indicating a possible short-term bounce may be limited.

MACD & RSI

The RSI dropped to 28 during the session, entering oversold territory, suggesting a possible short-covering rally. The MACD line crossed below the signal line during the early morning hours, confirming bearish momentum. However, the MACD histogram has started to narrow, hinting at waning bearish pressure.

Bollinger Bands

The price traded near the lower band for much of the session, especially during the 4:00 AM to 7:00 AM ET window, indicating oversold conditions. The bands expanded significantly during the 3:45 AM–4:00 AM and 6:00 AM–6:15 AM ET periods, suggesting increased volatility and uncertainty.

Volume & Turnover

Volume surged during the 3:45 AM–4:00 AM ET period with a candle that closed at 9.63, but failed to confirm a strong bearish move. A divergence between price and volume was observed in the final 4 hours of the session, with volume declining despite continued price weakness, hinting at potential short-term relief.

Fibonacci Retracements

Applying Fibonacci to the 15-minute swing from 10.29 to 9.15, the 61.8% level is at 9.44, which aligns with the current consolidation area. On the daily chart, the 38.2% retracement level is at 9.56, a potential resistance if the price attempts a recovery.

Looking ahead, Horizen may test the 9.39–9.42 support zone, where a bounce could occur if buying interest emerges. However, a break below 9.39 could accelerate the decline toward 9.15. Investors should remain cautious of potential short-covering rallies but be prepared for continued volatility if bearish sentiment persists.