The recent price drop of ZEN appears to be part of a broader technical correction and volatility in the privacy coin sector, following significant gains in the preceding month.
Sector Volatility & Correction: Horizen ($ZEN), along with other privacy coins like Zcash ($ZEC) and Dash ($DASH), experienced a sharp sell-off and profit-taking in the days leading up to today, following a large rally over the last 30 days. This volatility is often tied to:
Profit-taking: Traders exiting positions after recent large price increases.
Technical Rejection: ZEN was recently rejected at a key Fibonacci retracement level, leading to sell-offs.
Privacy Narrative/Fundamentals: In the longer term, the privacy coin sector has been trending up due to renewed interest in anonymity-centric assets, partly in response to increasing regulatory scrutiny on transparent chains.
Project Development: Horizen has been in the process of a major evolution, transitioning its coin to an ERC-20 token on the Base L2 (an Ethereum Layer 2 solution) to support its next-generation Layer 3 (L3) appchain for compliant privacy. This migration is a significant ongoing development.
In short, the chart shows a steep, double-digit percentage drop likely caused by profit-taking and a technical correction after a recent bullish move, within a sector that is currently quite volatile.
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Maani马尼-114
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Bikovski
🚀 $BANANA / USDT — Ready for a Juicy Rebound! 🍌🔥 BANANA showing fresh bullish momentum after a strong bounce from the lows — bulls are taking charge again! ⚡
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trader _malik
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Bikovski
$LTC USDC (Perp) – Binance Signal
Type: ⚡ LONG Current Price: 101.81 Trend: Bullish rebound from 98.00 support zone
📈 Entry Zone: ➡️ 101.0 – 102.2
🎯 Targets:
TP1: 104.5
TP2: 107.0
TP3: 110.5
⛔ Stop-Loss:
Below 98.0
🔑 Key Level:
Support: 98.0 – 99.0
Resistance: 106.9 – 107.5
📊 Technical View: LTC bounced strongly from the $98.00 support and reclaimed the $101 zone. As long as it holds above $100, bulls may push toward $107+ in the short term.
⚠️ Risk Management: Use 2–3% max risk per trade and trail stop once TP1 is reached. $LTC {future}(LTCUSDT)
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