What is ZEN:
ZEN is the Horizen's native cryptocurrency which is giving privacy feature as optional that allows you to hide or show your digital footprints.
For this purpose ZEN has two types of addresses:
1. T-Addresses: This is a regular address and the transactions using this address are public and transparent like Bitcoin's transactions on blockchain.
2. Z-Addresses: These addresses also called shielded addresses and transactions using these addresses are completely private and anonymous which hides the sender and receiver's addresses from public.
Balances using T-Addresses are also shield.
The price action's move:
Now lets have a breif look at the price action of Horizen or Zen coin:
Then:
In the month of Jan 2019 the MACD turned strong bullish before golden cross of 25 simple moving average with 50 simple moving average .
https://www.tradingview.com/x/MR8IyWpV/
In the month of Feb 25 SMA crossed down the price action and formed a golden cross with 50 SMA and pushed the priceline to the resistance of channel.
Now:
The same cycle is likely to repeat again.
https://www.tradingview.com/x/QMKKAxgZ/
The MACD turned strong bullish before golden cross of 25 simple moving average with 50 simple moving average as it happened before in Jan 2019.
https://www.tradingview.com/x/u1PFIVxX/
25 SMA again crossing down the price action to form a golden cross with 50 SMA which will push the price action to breakout the resistance.
https://www.tradingview.com/x/Y6DDIxwT/
100 SMA is ready to form a golden cross with 50 SMA in case of breakout from the resistance of channel which will produced more powerfull bull thrust that can push the price action even beyond the 0.786 fibonacci (the end of sell zone as i have defined on chart).
https://www.tradingview.com/x/dJTXGG2E/
Volume profile of complete channel is showing very low interest of traders below the support of channel.
https://www.tradingview.com/x/H2oxXOvG/
As above figure Fibonacci calculation of complete channel shows the price action can hit these targets very easily
Sell between: 0.0018685 to 0.0034417:
Regards,
Atif Akbar (moon333)
