- Bullish ZEN price prediction is $12.32 to $26.37
- Horizen (ZEN) price might also reach $15 soon.
- Bearish ZEN price prediction for 2023 is $8.29.
In Horizen (ZEN) price prediction 2023, we use statistics, price patterns, RSI, RVOL, and other information about ZEN to analyze the future movement of the cryptocurrency.
Horizen (ZEN) Current Market Status
| Current Price | $8.88 |
| 24 – Hour Trading Volume | $7,960,572 |
| 24 – Hour Price Change | 4.7% up |
| Circulating Supply | 13,237,875 |
| All – Time High | $165.92 (on May 08, 2021) |
What is Horizen (ZEN)?
ZEN is the native cryptocurrency coin utilized by the Horizen platform. A blockchain ecosystem called Horizen enables decentralised applications that protect user privacy. Horizen offers a core blockchain and a sidechain platform that let programmers create unique private or public blockchains and decentralised applications using ZEN. Horizon was launched in May 2017. ZEN is a mineable proof -of-Work (PoW) coin.
Horizen (ZEN) Price Prediction 2023
Horizen (ZEN) holds the 197th position on CoinGecko right now. ZEN price prediction 2023 is explained below with a daily time frame.
The above chart of Chain (XCN) laid out the Horizontal Channel pattern. Horizontal Channel pattern also known as the sideways trend. In general, the horizontal channel is formed during the price consolidation. In this pattern, the upper trendline, the line which connects the highs, and the lower trendline, line which connects the lows, run horizontally parallel and the price action is contained within it. A horizontal channel is often regarded as one of the suitable patterns for timing the market as the buying and selling points are in consolidation.
Currently, Horizen (ZEN) is in the range of $8.43. If the pattern continues, the price of ZEN might reach the resistance levels of $8.91, $9.54 and $11.07. If the trend reverses, then the price of ZEN may fall to $8.30.
Horizen (ZEN) Support and Resistance Levels
The chart below shows the support and resistance levels of Horizen (ZEN).
From the above daily time frame, we can clearly interpret the following as the resistance and support levels for Horizen (ZEN).
| Resistance Level 1 | $12.32 |
| Resistance Level 2 | $17.96 |
| Resistance Level 3 | $26.37 |
| Support Level | $8.29 |
The charts show that Horizen (ZEN) has performed a bullish trend over the past month. If this trend continues, ZEN might run along with the bulls overtaking its resistance level at $26.37.
Accordingly, if the investors turn against crypto, the price of Horizen (ZEN) might plummet to almost $8.29 , a bearish signal.
Horizen (ZEN) Price Prediction 2023 — RVOL, MA, and RSI
The Relative Volume (RVOL) of Horizen (ZEN) is shown in the chart below. It is an indicator of how the current trading volume has changed over a period of time from the previous trading volume. Currently, the RVOL of ZEN lies below the cutoff line, indicating weak participants in the current trend.
Also, the Moving Average (MA) of Horizen (ZEN) is shown in the chart above. Notably, Horizen (ZEN) price lies below 50 MA (short-term), so it is in a downtrend. Currently, ZEN has entered a bearish state. Therefore, there is a possibility of a reversal trend of ZEN at any time.
Meanwhile, the relative strength index (RSI) of the ZEN is 39.19. This means that Horizen (ZEN) is in an oversold state. However, this means a major price reversal of ZEN may occur in the upcoming days. So, traders need to trade carefully.
Horizen (ZEN) Price Prediction 2023 — ADX, RVI
Let us now look at the Average Directional Index (ADX) of Horizen (ZEN). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.
The above chart represents the ADX of Horizen (ZEN). Currently, the ADX of ZEN lies in the range of 26.12 and thus, it indicates a weak trend.
The above chart also represents the Relative Volatility Index (RVI) of Horizen (ZEN). RVI measures the constant deviation of price changes over a period of time. The RVI of ZEN lies below 50, indicating low volatility. In fact, the RSI of Horizen (ZEN) is at 39.19 thus confirming a potential buy signal.
Comparison of ZEN with BTC, ETH
The below chart shows the price comparison between Bitcoin (BTC), Ethereum (ETH), and Horizen (ZEN).
From the above chart, we can interpret the price changes of BTC, ETH and ZEN are moving in a similar trend. This indicates that when the price of ETH and BTC increases or decreases, the price of ZEN also increases or decreases respectively.
Horizen (ZEN) Price Prediction 2024-2030
Numerous factors are taken into account when forecasting prices including volume changes, price variations, market cycles, and similar coins. Let’s predict the price of Horizen (ZEN) between 2024 and 2030.
Horizen (ZEN) Price Prediction 2024
If the declining price action completely slows down in momentum and the trend reverses, Horizen (ZEN) might probably attain $50 by 2024.
Horizen (ZEN) Price Prediction 2025
With several upgrades in the network, Horizen (ZEN) might enter a bullish trajectory. If the coin grabs the attention of major investors, ZEN might rally to hit $55 by 2025.
Horizen (ZEN) Price Prediction 2026
If Horizen (ZEN) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 3 years, ZEN would rally to hit $60.
Horizen (ZEN) Price Prediction 2027
If Horizen (ZEN) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 4 years, ZEN would rally to hit $65.
Horizen (ZEN) Price Prediction 2028
If Horizen (ZEN) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 5 years, ZEN would rally to hit $70.
Horizen (ZEN) Price Prediction 2029
If Horizen (ZEN) holds up a strong stance as a better investment option for the next 6 years amid the trends in the highly-volatile crypto market. By driving significant price rallies, ZEN would hit $75 in 2029.
Horizen (ZEN) Price Prediction 2030
If investors flock in and continue to place their bets on Horizen (ZEN), it would witness major spikes. ZEN might hit $80 by 2030.
Conclusion
With continuous improvements in the Horizen network, we can say that 2023 is a good year for ZEN. For this reason, the bullish price prediction of Horizen (ZEN) in 2023 is $26.37. On the other hand, the bearish price prediction of Horizen (ZEN) price prediction for 2023 is $8.29.
Furthermore, with the advancements and upgrades to the Horizen ecosystem, the performance of ZEN would help to reach above its current all-time high (ATH) of $165.92 very soon. But, it might also reach $20 if the investors believe that ZEN is a good investment in 2023.
FAQ
ZEN is the native cryptocurrency coin utilized by the Horizen platform. Horizen offers a core blockchain and a sidechain platform that let programmers create unique private or public blockchains and decentralised applications using ZEN.
Horizen (ZEN) has been listed on many crypto exchanges which include Binance, FMFW.io, LBank, OKX, DigiFinex, WhiteBIT.
With the ongoing developments and upgrades within the Horizen platform, ZEN has a high possibility of reaching its ATH soon.
On April 19, 2021 Horizen (ZEN) reached its new all-time high (ATH) of $0.280991.
Horizen (ZEN) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of Horizen in the past few months, ZEN is considered a good investment in 2023.
Horizen (ZEN) is one of the active cryptos that continues to maintain its bullish state. Eventually, if this bullish trend continues then Horizen (ZEN) will hit $20 soon.
Horizen (ZEN) price is expected to reach $30 by 2024.
Horizen (ZEN) price is expected to reach $40 by 2025.
Horizen (ZEN) price is expected to reach $50 by 2026.
Horizen (ZEN) price is expected to reach $60 by 2027.
Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
