Market Overview: ZENBTC Faces Pressure at Key Support Levels on 2025-12-29

Summary
• ZENBTC edged lower amid mixed momentum, testing a key 0.0001045 support.
• Volatility spiked during the 04:00 ET hour as price surged to a high of 0.00010709.
• RSI showed overbought conditions early morning before reversing lower by midday.
• Bollinger Bands tightened after 07:45 ET, signaling a possible breakout.
• Volume surged at 04:00 ET, but price failed to confirm with a higher close.

Horizen/Bitcoin (ZENBTC) opened at 0.00010426 on 2025-12-29, reached a high of 0.00010709, and a low of 0.00010362, closing at 0.00010412 by 12:00 ET. Total 24-hour volume was 7,154.54 ZEN, and notional turnover was 0.6652 BTC.

Structure & Formations

Price tested a potential support at 0.0001045 multiple times, with a rejection forming a small bearish trendline. A bullish engulfing pattern at 03:30 ET suggested short-term buying interest, but failed to carry through. A doji at 07:45 ET signaled indecision, coinciding with a tightening of Bollinger Bands.

Moving Averages and MACD

On the 5-minute chart, the 20SMA and 50SMA crossed in a bearish divergence after the 04:00 ET peak, with the MACD line falling below the signal line, confirming weakening momentum. Daily MAs are not calculable due to insufficient data for a daily timeframe.

RSI and Volatility

RSI briefly hit overbought territory at 04:00 ET but declined sharply to neutral levels by 07:45 ET, reflecting exhausted bullish pressure. Volatility expanded during the early morning surge, with the largest move occurring between 04:00 and 04:15 ET.

Volume and Turnover

Volume spiked sharply at 04:00 ET, with 1,702.17 ZEN traded, but price closed lower, indicating failed confirmation. Turnover diverged from price at 07:45 ET, with high volume and minimal price movement, suggesting order book consolidation.

Bollinger Bands and Fibonacci Retracements

Bollinger Bands narrowed after 07:45 ET, suggesting a potential breakout in either direction. Fibonacci levels from the 04:00 ET high to the 07:45 ET low showed price testing the 61.8% retracement level (0.00010543), which may now act as resistance.

Looking ahead, ZENBTC appears poised to test the 0.0001045 support level again, with potential for a bounce or breakdown. Investors should remain cautious of a possible bearish continuation if volume fails to increase on a break below 0.0001045.