Market Overview: Horizen/Bitcoin (ZENBTC) 24-Hour Price Action Analysis

• Horizen/Bitcoin (ZENBTC) traded in a tight range before surging to a 24-hour high near $0.00013333 amid heavy buying pressure.• A strong bullish breakout followed by a pullback suggests consolidation near key support at $0.00012847.• Volume spiked significantly during the rally, confirming strength, but recent volume has declined, signaling potential exhaustion.

Horizen/Bitcoin (ZENBTC) opened at $0.00011967 on 2025-11-12 at 12:00 ET and closed at $0.00012502 on 2025-11-13 at the same time. The pair reached a high of $0.00013333 and a low of $0.00011888 over the 24-hour period. Total trading volume amounted to 15,053.31 ZEN, with a notional turnover of approximately $1.96 (based on average price).

The 15-minute OHLCV data shows a distinct three-wave move: an initial sideways range, a sharp rally driven by buying pressure, and a pullback into consolidation. Key resistance levels formed around $0.0001318 and $0.00013333, while support emerged around $0.00012847 and $0.000124.

Structure & Formations

A bullish engulfing pattern emerged during the rally above $0.00013048, signaling a shift in sentiment. However, a subsequent bearish harami pattern developed near the top of the range, suggesting caution for further gains. A doji candle appeared at $0.00013119, indicating indecision. The most recent 15-minute candles show a descending pattern forming between $0.0001251 and $0.00012485, pointing to a potential retest of support at $0.000124.

Moving Averages

The 20-period and 50-period moving averages on the 15-minute chart are closely aligned, hovering around the $0.000125–$0.000126 range. Price has moved above both, suggesting a potential continuation of the bullish trend. On the daily chart, the 50-period MA is at $0.0001245, while the 100-period and 200-period MAs hover slightly below, indicating short-term bullish momentum could outpace long-term averages.

MACD & RSI

The MACD line turned positive during the rally, with a histogram showing expansion, confirming bullish momentum. However, recent bars have flattened, indicating weakening upward force. RSI reached 68 at the high of $0.00013333 and has since retreated to around 58, suggesting moderate strength but not yet overbought. A potential pullback into the 50–55 range could trigger a retest of key support or a new buying opportunity.

Bollinger Bands

Price action expanded the upper band during the rally, with volatility spiking to around 0.000005. The 15-minute Bollinger Bands currently show the price near the middle band, indicating neutral positioning. A retest of the lower band around $0.00012477 could signal a resumption of consolidation or a potential short-term reversal.

Volume & Turnover

Volume spiked during the rally, peaking at 750.34 ZEN when the pair broke above $0.00013038. However, recent volume has declined significantly, with under 30 ZEN traded in key 15-minute intervals. This suggests buyers are losing momentum. Notional turnover followed the same trend, reaching a high of $99.99 before trailing off, confirming the lack of follow-through.

Fibonacci Retracements

On the 15-minute chart, the 38.2% Fibonacci level is around $0.0001285, and the 61.8% level is at $0.0001304. The pair has tested these levels multiple times over the past 24 hours, with the 61.8% acting as resistance during the consolidation phase. On the daily chart, the 38.2% retracement is near $0.0001275, and the 61.8% level is at $0.0001248, which appears to be a key support cluster.

Backtest Hypothesis

A potential backtesting strategy could focus on the bullish engulfing pattern identified during the rally, combined with a break above the 61.8% Fibonacci retracement at $0.0001304. Entering long on a close above $0.0001304 with a stop-loss below the doji at $0.00013119 could capture the next leg of the trend. Given the recent volume contraction and bearish harami, an exit target at $0.000132 would align with the upper Bollinger Band and prior resistance. The MACD and RSI confirm the setup, making it a high-probability entry for traders seeking to capitalize on the short-term bullish bias.