Horizen (ZENUSDT) Market Overview: 24-Hour Technical Summary

• ZENUSDT fell from $9.19 to $8.29 before a late rally to close near $8.80, forming a bullish reversal pattern.
• Strong volume spikes during the downward move suggest profit-taking or bearish sentiment.
• RSI and MACD show oversold conditions, hinting at potential short-term bounce.
• Bollinger Bands reflect moderate volatility, with price near the lower band for most of the session.
• Fibonacci retracement levels suggest key support at $8.55 and resistance at $9.00 for near-term action.

Horizen (ZENUSDT) opened at $9.12 on 2025-07-23 at 12:00 ET, reached a high of $9.19, a low of $8.29, and closed at $8.80 by 12:00 ET on 2025-07-24. Total volume for the 24-hour period was 416,460.11, and notional turnover was approximately $3,689,733. The price action reflects a bearish trend followed by a moderate recovery.

Structure & Formations

ZENUSDT experienced a sharp bearish breakdown, with a low of $8.29, followed by a modest rebound into the close. A bullish reversal pattern formed around 06:00–09:00 ET, with prices rising from $8.33 to $8.53. The key support level appears to be around $8.55 (61.8% Fibonacci retracement of the $9.19–$8.29 swing), while $9.00 represents a key resistance level. A doji formed at $8.87 around 00:00 ET, indicating indecision and potential consolidation.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages both trended lower during the early bearish phase, but the 20SMA began to cross above the 50SMA in the final hours of the session, suggesting a short-term bullish bias. Daily moving averages (50, 100, 200) would need to be referenced for longer-term context, but the 15-minute chart shows early signs of a potential trend reversal.

MACD & RSI

The RSI reached oversold territory below 30 for several hours, particularly after the $8.29 low, suggesting a potential bounce. The MACD line turned positive in the final hours of the session, aligning with the price rebound. Momentum appears to be shifting from bearish to neutral, though a sustained move above $8.90 would be needed to confirm a stronger bullish reversal.

Bollinger Bands

ZENUSDT remained near the lower Bollinger Band for much of the session, indicating a period of low volatility. A contraction in band width occurred between 04:00 and 06:00 ET, followed by a breakout as price rose into the mid-band. This suggests a potential increase in volatility and a possible continuation of the rebound.

Volume & Turnover

Volume spiked during the bearish phase, especially between 20:00 and 21:00 ET, when the price fell from $8.85 to $8.58. This suggests significant selling pressure or profit-taking. However, volume during the rebound was moderate, which may limit the strength of the move. Turnover and price action aligned during the bearish move, but divergence appeared during the recovery phase, indicating mixed sentiment.

Fibonacci Retracements

Applying Fibonacci retracement levels to the $9.19–$8.29 swing, key levels include $8.55 (61.8%), $8.76 (50%), and $8.93 (38.2%). Price is currently near $8.80, suggesting that the 50% retracement level may act as a short-term ceiling or consolidation zone. A break above $8.93 could signal renewed bullish momentum.

ZENUSDT may test key support and resistance levels in the next 24 hours, with a potential bounce from $8.55 and a retest of $8.90 as likely scenarios. Traders should remain cautious, as the market appears to be in a transitional phase with mixed signals on volume and momentum.