Horizen ($ZEN) Price Prediction 2024–2030: Can It Overcome Regulatory Hurdles?
- 2024: Our analysis suggests $ZEN could reach $23.51 in the bullish scenario or drop to $8.54 in the bearish scenario.
- 2025: In a favorable climate, $ZEN could soar to $35.05 by the end of the year. However, if it fails to break through the current resistance level, it might drop to $1.47.
- 2030: Depending on broader market conditions, government regulations, and Horizen network updates, $ZEN could reach a target price of $68.17 or find a new resistance level at $3.
Horizen ($ZEN) has been hovering below its starting price since 2022. It earned a monitoring tag from Binance and isfacing potential delisting.
Luckily for its HODLers, $ZEN has started to climb back, with a 51% yearly increase. Now that the monitoring tag has been removed, we share our $ZEN price prediction for 2024 and beyond to see whether it can reach its past peak.
What Is Horizen ($ZEN)?Horizen is a privacy and scalability-focused dApp network running on the sidechain Zendoo and using a zero-knowledge (ZK) architecture. $ZEN is the platform's native currency and one of the first ZK coins.ZK chains allow users to prove certain information without revealing additional details. For example, they can prove sufficient funds for a transaction without revealing their total asset sum.
$ZEN holders can use the token to pay gas fees on the Horizen network and stake it to earn passive rewards while contributing to a more stable, secure blockchain.
$ZEN Historical Price$ZEN was listed in 2017 at $11.34 and fell below $4 after a brief spike to $19.13. Six months later, the token recovered and soared to its then-all-time high (ATH) of $54.32, resulting in a 379% gain for its first investors.
However, the uptrend didn't last long. After a year of extreme volatility, $ZEN bounced back to $4 and struggled to rebound until 2021, when it reached its new ATH of $148.21.
In 2022, $ZEN once again dipped below its listing price. However, that wasn't the only reason it received a monitoring tag from Binance in January 2024.
The exchange targeted privacy tokens like Monero ($XMR), Zcash ($ZEC), and $ZEN due to regulatory requirements.
This month, $ZEN grew by 94.56%, reaching $11.95. Although $ZEN remains highly volatile, it was in the green for most of 2024, signaling a tentative uptrend.
Currently, $ZEN's 50-day and 200-day Simple Moving Averages (SMAs) are bullish, suggesting a strong potential for long-term growth. Both SMAs indicate that $ZEN could find a support level at $8.54 and is unlikely to fall below this price point in 2024.
$ZEN's current monthly growth rate of 94.56% is exceptionally positive, yet its 63.82 Relative Strength Index is nearing the oversold territory. There's a chance correction is underway.
Furthermore, the weekly 200-day SMA of $15.19 could be the current resistance level. $ZEN will need strong momentum to break through this point.
Horizen's recent 2.0 upgrade might act as a catalyst for this breakthrough. In the most positive outcome, $ZEN might hit $23.51 by the end of the year, translating into a 96% gain for those who bought it at the current price.
$ZEN Price Prediction 2025A weighted average price projection suggests that in a bullish scenario, $ZEN could reach $35.05 by the end of 2025, a 195% increase from the current price.1/ The transformation to Horizen 2.0 is full steam ahead!
The 2.0 upgrade is a substantial leap forward for the Horizen ecosystem:
Enhanced EVM Optimized for ZK Apps
The Latest Proof Verification Method
Exceptional Performance
Future-Proof by Design
Let's dive into... pic.twitter.com/mKNFlGGNcQ
- Horizen (@horizenglobal) July 16, 2024
However, repeated failed attempts to break through the current resistance level could create a bearish sentiment and cause $ZEN to fall to $1.47, translating into an 87% loss for investors who bought it at $11.95.
Ultimately, $ZEN's price depends on Horizen's project developments. Like any utility token, it relies on the adoption of the underlying network, which drives demand for the native currency.External factors also come into play. Specifically, government regulations regarding privacy coins might put $ZEN at risk of delisting and drive its price down. Alternatively, it could increase demand for $ZEN in unregulated markets, boosting its value.
$ZEN Price Prediction 2030$ZEN's historical performance is mixed, so there's potential for significant price swings in either direction.If broader market conditions are favorable and Horizen continues rolling out updates that are well-received, we might see $ZEN reaching $68.17 by 2030. This translates into a 470% gain for current holders.
In the bearish scenario, potentially triggered by exchange delistings, economic downturns, or loss of utility, $ZEN might hover around $3, a 74% decrease from the current level.
$ZEN Monitoring Removed, But Will It Rebound?Horizen's development and crypto regulations are the key factors affecting $ZEN's price. The token's odds of rebounding to its past peak hinge on the project's ability to navigate and adapt to evolving government policies around privacy coins.
ReferencesClick to expand and view references
- Horizen (TradingView)
- Horizen (CoinMarketCap)
- Horizen (CoinCodex)
- Whitepapers (Horizen)
- Horizen (X)
- Announcement (Binance)
- Relative Strength Index (RSI) Indicator Explained With Formula (Investopedia)
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