Assessing ZENs bullish market structure - How long will momentum hold now?
Tech Assessing ZENs bullish market structure – How long will momentum hold now? Horizen (ZEN) has started the week with a sharp bullish move, climbing by 12% over the last 24 hours as buyers regained clear control of the short-term price action. The rally followed a fresh bullish structure shift on the daily chart. Such a shift often marks the first meaningful sign that momentum may be beginning to rotate back in favour of buyers. This shift matters more than the daily gains themselves as the price had been compressing before the breakout. However, the latest move pushed ZEN beyond that short-term structure and confirmed a change in market direction – Evidence of momentum expansion. Open Interest surge – A sign of stronger conviction? One of the clearest signs supporting the rally has been the sharp rise in Open Interest. Over the last 24 hours, ZENs Open Interest climbed by 24% to $19.2 million, tracking closely with the price hike. In the past, similar alignments have hinted at fresh capital entering the market rather than a move driven by short covering alone. In simple terms, traders are not just reacting to the breakout. Instead, they may be adding exposure to it. This behaviour lends the current rally more