Altcoin Pioneers! The weekly ZEN chart paints a textbook bearish picture: sequential lower tops (1-3) capping rallies under that blue descending channel, with price now probing Bottom 3 around 12.68 after Bottom 2 support at ~17k. Volume's waning on upsides, screaming distribution—Horizen's macro fatigue is real.
Hold support? Decent shot if we get a volume spike and RSI holds above 30 (currently neutral). Breakout above resistance? Forget it short-term; needs >20k close to flip the script. Deeper dip risk? High—channel projects to 8k if cracks, aligning with 200W MA.
Target: Rebound to 15k max on hold, or slide to 10k on break. Eyes on: Ichimoku cloud for dynamic support, funding rates for sentiment, and ecosystem news. Tread light! ⚠️🛡️
#Horizen #CryptoBear #TAWeekly
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