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Horizen Price Prediction 2021 – Will ZEN Hit $165 Soon?

Horizen is currently trading at $10.2, with a market cap of $1,764,856,000. The current price represents a -12.97% decrease in ZEN’s value from its all-time high of $14.93 that was reached on December 22nd, 2018.

The horizen price prediction 2025 is a question that has been asked for a while. It’s not going to be easy to answer this question, but we’ll give it a shot.

  • The range of bullish ZEN price predictions is $60 to $161.80.
  • The price of ZEN may soon exceed $165.
  • The pessimistic market price forecast for 2021 is $27.90 for ZEN.

We utilize statistics, price analysis, ADX, and other information about Horizen (ZEN) to evaluate the future trend of cryptocurrencies in Horizen (ZEN) price forecast 2021.

Horizen (ZEN) is a decentralized blockchain system with an interoperable blockchain technology. It focuses on scalable data privacy and utilizes its unique sidechain technology to enable companies and developers to custom create their own public or private blockchain.  

At the time of writing, the ZEN price was trading at $46 with a 24-hour trading volume of $29,833,977, according to CoinGecko. In the past 24 hours, though, ZEN has risen 7.59 percent.

In addition, there are 11,322,456.25 ZEN in circulation. ZEN is currently traded on Binance, OKEx, CoinTiger, Huobi Global, and HitBTC, among other cryptocurrency exchanges.

Price Prediction for Horizen (ZEN) in 2021

At the moment, ZEN is ranked 101st on CoinGecko. The price of ZEN in 2021 is forecasted using a daily time period, as shown below.

Daily Time Frame ZEN/USDT Price Chart (Source: TradingView)

The Descending Triangle patterns are shown in the graph above. This pattern is a breakout pattern and is an inverted counterpart of the ascending triangle. The lower trendline should be horizontal and link almost the same lows as the top trendline. The rising trendline slants downward diagonally. When the price falls, the breakdown occurs, and the downtrend is supported by a lower horizontal trendline. The once-supporting lower trendline has now become opposition.

If the price of the ZEN breaks through the resistance level of $70 on the daily time frame chart, it will approach the targets of $128 and $181. Otherwise, the price of the ZEN breakout will drop to the $38.90 support level. As a result, the ZEN’s trend is centered on the breakout.

Support and Resistance Levels in ZEN

The chart below depicts ZEN’s support and resistance levels.

Horizen Price Prediction 2021 – Will ZEN Hit $165 Soon?Support and Resistance Levels for ZEN/USDT (Source: TradingView)

The resistance and support levels of ZEN are clearly visible in the above daily time frames.

  • Level 1 Resistance – $60
  • Level 2 Resistance – $89.30
  • $112.50 for Level 3 Resistance
  • $161.80 – Resistance Level 4
  • Level 1 Support – $38.80
  • $27.90 for Level 2 Support
  • Level 3 Support – $17.40

ZEN has been on a bullish trend for the last month, according to the charts. If the current trend continues, ZEN may catch up with the bulls and break over its resistance level at $161.80.

In the event that investors turn against cryptocurrency, the price of ZEN may drop to almost $27.90, indicating a negative indication.

Average Directional Index (ZEN) (ADX)

Let’s take a look at ZEN’s average directional index (ADX). It is linked to the Directional Movement Index and is used to assess the overall strength of the trend (DMI).

The oscillator has a 0 to 100 range. A high price also implies a strong trend, while a low price suggests a weak trend. It is often used in conjunction with directional indicators. 

The ADX of ZEN remains above the range of 35 in the chart above, indicating a strong trend.

Conclusion

ZEN is one of the few cryptocurrencies that has managed to hold its ground in the face of the bear market. Our long-term ZEN price forecast for 2021 is also optimistic. This year, it has a good chance of surpassing its current all-time high (ATH) of $165.92. This, however, only occurs when ZEN overcomes a great deal of previous psychological opposition.

Furthermore, the ZEN environment may have a bright future ahead of it in 2021, thanks to continuous improvements and updates. It may soon hit $161.80 and even higher levels, but it is more likely to reach $165 if investors believe ZEN is a solid investment in 2021.

Disclaimer: The views stated in this graph are entirely those of the author. It should not be construed as investment advice. Before investing, TheNewsCrypto staff advises everyone to conduct their own research.

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Horizen is a cryptocurrency that aims to create a new decentralized internet. The zen price prediction 2022 is based on the current market rates for this currency.

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