Privacy coins continue to be important in cryptocurrency markets.
While most cryptocurrency transactions are traceable on the blockchain, privacy coins utilize a range of protocols to obscure the addresses of transacting parties. Some privacy cryptocurrencies are private by default. Others offer identity-preserving features as an option.
Horizen is a technology...
Pattern: Channel Down on 1W.
Signal: Bullish as the pattern marginally broke to the upside but need also to break above the 14.7000 Resistance top for confirmation.
Target: 34.0000 (the next Resistance).
Horizen ZenCash was launched in May 2017 as a privacy-oriented digital currency ecosystem built on zk-SNARKs (“Zero-Knowledge Succinct Non-Interactive Argument of Knowledge”), an innovative cryptographic technique first introduced by the ZCash ZEC team.
Building upon the ZCash team’s core focus Horizen aims to create a high-performing platform for money, messages...
From ZenCash to Horizen
Horizen, known as ZenCash before rebranding, started through a fork of the Zclassic (ZCL) blockchain. Zclassic itself was a fork of the privacy-centric cryptocurrency ZCash ZEC
More than just a ZCash ZEC fork
Since Zcash is also a privacy-centric crypto, Viglione noted he believes Horizen made a breakthrough in side-chain technology,...
Zen obviously wants to break higher. I am observing it quite a few weeks and allways when we get to 13.xx levels, there comes a pump up. The last one was huge (some partnership announced), so I didn´t think we´ll be able to get back here again. Well, we did. It needed to test the accumulation zone with POC included.
So I can see two possibilities here :
- ZEN HAS ONCE AGAIN BOUNCED OFF ITS CRITICAL SUPPORT LEVEL AT ~15$ (GREEN HORIZONTAL LINE)
- THE PAST TWO DAYS BROKE UP AND THROUGH THE DOWNTREND RESISTANCE FROM PREVIOUS HIGH (SHORTER RED LINE FROM LAST HIGH)
- THE 10 AND 50 DAY MOVING AVERAGES ARE CONVERGING "THE PINCH+CROSSOVER (BULLISH SENTIMENT)
- MACD AND RSI ARE MOVING WITH UPWARD MOMENTUM
ZenCash has been trending upwards since 24th of June, and has climbed from $15 up to $34, gaining 134%. Recently ZEN/USD faced the resistance at $32, which is 127.2% Fibonacci retracement level applied to the last corrective wave down.
Price has spiked above the resistance, althogh failed to close higher, suggesting the corrective move down. At the same time ZEN...