Horizen (ZEN) price has exploded this Wednesday. Is it still a good buy opportunity?

By: Stanko Iliev
Stanko Iliev
Stanko dedicates himself to providing investors with relevant information they can use to make investment decisions. He loves the… read more.
on Sep 16, 2021
  • Horizen (ZEN) price has exploded this Wednesday
  • If the price jumps above $120, the first target could be around $130
  • Horizen announced a partnership with Dash to create the first-ever reward marketing blockchain

Horizen ZEN/USD has advanced from $83.9 above $110 in less than several hours, and the current price stands around $101. The current trend of this cryptocurrency remains bullish, but when trading ZEN, you should consider that the price could also weaken in the upcoming days.

Fundamental analysis: Horizen announced a partnership with Dash

Horizen is one of the most secure blockchain ecosystems that provides all necessary components for deploying fully customizable blockchains focused on flexibility, scalability, and data privacy. Horizen has a node system with more than 40,000 fully distributed nodes, while its PoW mainchain maximizes security and distributes Horizen’s native token, ZEN, throughout the ecosystem.

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This project aims to decentralize the decision-making processes and ultimately implement a democratic system where every ZEN holder is a voter. Horizen is designed to solve real-world problems and offers you to build your blockchains at a low cost with the flexibility to issue an unlimited amount of tokens.

Horizen dedicates lots of effort to improve access to privacy and offers you to choose complete privacy for things like payments, charitable donations, and sharing information. Horizen recently announced a partnership with Dash to create the first-ever reward marketing blockchain.

“The unique reward marketing solution is being built using our scalability and sidechain protocol, Zendoo, and Dash’s technology payments, as well as their expertise in community engagement. The ultimate goal, in this case, is to develop a fully decentralized data protection solution using zero-knowledge proofs that anyone can use to build their own independent reward marketing programs,” said Rob Viglione, co-founder of Horizen and CEO of Horizen Labs.

Another positive news is that Horizen announced the partnership with Morpheus in August 2021 to enable businesses to record each step in the supply chain process. This is a very good solution for the global supply chain industry, and it will certainly help clients maximize revenue through digitization and process automation.

Technical analysis: Bulls remain in control of the price action

Horizen (ZEN) price has exploded this trading week, and this coin continues to trade in a bull market. If the price jumps above $120 in the upcoming days, it would be a signal to trade ZEN, and the first target could be around $130.

Data source: tradingview.com

There is no risk of the trend reversal for now, but if the price falls below $90 support, it would be a firm “sell” signal, and the next target could be around $80.

Summary

Horizen is one of the most secure blockchain ecosystems, and according to the latest news, it announced a partnership with Dash to create the first-ever reward marketing blockchain. Horizen (ZEN) has exploded this Wednesday, and if the price jumps above $120, the first target could be around $130.

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