ZEN has risen 20% today. What is the outlook for the future?

2024-12-20, 08:37

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<a href="/price/horizen-zen" target="_blank" class="blog_inner_link">Horizen</a> is a decentralized blockchain platform that facilitates peer-to-peer transactions through its native token, ZEN. Transactions are verified through the Horizen network, a distributed computing system that utilizes cryptographic protocols. The public blockchain ledger of the network ensures secure and transparent record-keeping, allowing ZEN to function as a value token in a decentralized environment.
![](https://gimg2.gateimg.com/image/article/1734683927zen.jpeg)
On December 17, 2023, digital asset management firm Grayscale Investments launched the Grayscale Horizen Trust (HZEN). The new product aims to provide accredited investors with regulated access to the native Horizen token ZEN without the need to directly purchase or manage cryptocurrencies. This approach is particularly attractive to investors who prefer to explore the <a href="/price" target="_blank" class="blog_inner_link">cryptocurrency market</a> through traditional brokerage accounts.
The launch of the Horizen Trust aligns with Grayscale's mission to bridge the gap between traditional finance and the expanding cryptocurrency market. By offering regulated tools for ZEN, Grayscale increases investment opportunities for accredited investors while simplifying access to blockchain assets. This move further solidifies Grayscale's leading position in providing innovative digital asset products, catering to both institutional and individual investors exploring blockchain technology.
According to Gate.io market data, ZEN is currently priced at $18.98, with a 24-hour increase of 20.6%, and a current circulating market capitalization of $300 million, ranking 239th in the overall market. How will ZEN trend with the backing of the Grayscale ZEN Trust? What trading strategies should be employed in the future?
## ZEN Market Analysis
### Trading Data:
- Current Price: 18.9855 USDT
- 24-hour Increase: 21.40%
- 24-hour High: 19.1568 USDT
- 24-hour Low: 14.5139 USDT
- Support Level: 14.505 USDT
- Resistance Level: 18.658 USDT
- Market Sentiment: Fear and Greed Index at 87, indicating extreme greed in the market.
## Trading Strategy Recommendations
### Strategy 1: Short-term Bullish Strategy
- Direction: Bullish
- Entry Price: 18.990 USDT (near current price)
- Stop-loss Level: 18.658 USDT (below resistance level)
- Target Price: 20.00 USDT (psychological level)
Reasons and Features: Current market sentiment is extremely greedy, which typically suggests further short-term increases. A price breakout above the resistance level of 18.658 USDT may attract more buying interest, pushing the price closer to 20.00 USDT. The stop-loss is set below the resistance level to prevent losses from price pullbacks.
### Strategy 2: Pullback Buy Strategy
- Direction: Bullish
- Entry Price: 16.50 USDT (assuming price pulls back near support level)
- Stop-loss Level: 14.505 USDT (below support level)
- Target Price: 19.00 USDT (close to current price)
Reasons and Features: If the market experiences a pullback, the price may approach the support level of 14.505 USDT, providing a good buying opportunity. This strategy capitalizes on the strength of the support level, assuming a rebound occurs here. The stop-loss is set below the support level to protect investors from larger losses.
## Outlook
With the launch of the Grayscale Horizen Trust, the ZEN token is expected to attract more attention from traditional investors, increasing its market liquidity. The platform’s decentralized nature and high-security guarantees, combined with new investment channels, will enhance ZEN's market position. However, investors should be mindful of changes in market sentiment, as extreme greed may lead to short-term price volatility.
In the long run, as blockchain technology matures and market regulation improves, the application scenarios for the ZEN token are expected to expand, further enhancing its value. Overall, the future outlook for the ZEN token is positive, especially as market sentiment and financial tool innovations drive more investment opportunities in the short term. However, investors must remain vigilant of price fluctuations and adjust their strategies flexibly according to market trends.
<div class="blog-details-info">
<div>Author: **Icing**, Gate.io Researcher
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions. Investment involves risks and users need to make careful decisions.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
</div>

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