ZEN pushed through ascending triangle resistance with strong volume, confirming a breakout as bullish candles closed above the key structure.
After the breakout, price retested the horizontal zone and bounced, confirming a flip in polarity and validating continued strength.
If ZEN revisits the support zone again, a strong setup may form for continuation, with trend and structure aligned for upside.
Horizen (ZEN) has shown technical strength by breaking out from an ascending triangle pattern on the 4-hour timeframe. The breakout was supported by volume expansion, clean structure, and a successful retest of the key $8.00 zone.
Ascending Triangle Breakout Shows Bullish Intentions
Horizen formed a textbook ascending triangle from late June into early July. This pattern is typically bullish, with higher lows squeezing into a horizontal resistance zone around $8.00. The breakout took place with bullish candles and an increase in trading volume, confirming the breakout's strength.
A tweet from Alpha Crypto Signal confirmed the move: "$ZEN has nailed the breakout from the ascending triangle... solid structure, clean move." This breakout wasn't erratic—it formed on the back of structured accumulation, marked by an internal ABCD pattern within the triangle. This steady accumulation adds strength to the bullish case.
Price Retest and Volume Confirmation Support Trend Continuation
After the breakout, $ZEN not only held above the $8.00 resistance but also successfully retested it as support. This move confirmed a change in polarity. The price briefly wicked back into the $8.00–$8.20 zone and bounced, suggesting the area has turned into a support level.
Volume action further validated this development. There was a notable decline in volume within the triangle, followed by a surge during the breakout. This type of volume squeeze and release is often associated with reliable continuation setups. Currently, the 9 EMA at $8.18 is acting as dynamic support, while the 50 SMA, positioned at $7.75, is trending upward.
Watch for Bullish Throwback and Potential Upside Levels
While the first breakout and retest have occurred, Alpha Crypto Signal notes that a second pullback to the $8.00–$8.20 support zone could offer a high-probability entry. If $ZEN revisits this zone and prints bullish signs such as a higher low or bullish candle formation, it could offer a low-risk long setup.
Should momentum continue, the next resistance zones to monitor are $8.50–$8.70. Psychological levels at $9.00 and $9.50–$10.00 could follow if broader market conditions remain favorable. With the current price at $8.32, ZEN has gained 5.02% in the past 24 hours and 9.91% over the last 7 days.
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