$ZEN (Horizen) is showing a strong short-term recovery with the USDT pair currently trading around 12.77, marking a solid +13.81% gain in the last 24 hours. This price action puts ZEN close to its intraday high of 12.786, indicating buying momentum has remained steady into the recent hours. Volume confirms the move, with nearly 23.38M USDT traded against 1.99M ZEN, a ratio that leans heavily toward demand. However, a look at the 4-hour chart shows that the price is approaching a resistance zone that has historically rejected upward movement. Traders jumping in here without caution might be betting too much on short-term hype.
On the flip side, there’s reason to stay skeptical about the sustainability of this move. ZEN’s previous lows around 10.85 now act as immediate support, but a broader view shows it's still locked in a longer-term downtrend since its highs in earlier cycles. Unless it breaks above the 13.00 mark with volume to back it, this could just be a typical bounce within a bearish structure. Market participants should watch for signs of exhaustion in the next 1D candle. ZEN may be gaining attention as a "gainer," but it's not out of the woods technically, and smart money likely knows it.
