Recently driven by revived risk sentiment, ZEN surged in the short term with increased volume, breaking above $6.00 at one point. However, affected by Bitcoin's correction and shrinking trading volume, it returned to a consolidation range. The current key focus is the $6.00 mark—if ZEN can hold above with sufficient volume, it may test the previous high of $6.62; if it repeatedly faces resistance, beware of losing support at $5.63, which would increase retracement risk. Strategy recommendation: Maintain a range trading approach, with $5.00~$6.50 as the core interval for trend judgment. For short-term trading, strictly control positions and monitor volume changes as potential trend reversal signals.

Driven by easing international geopolitical tensions, Bitcoin saw a notable rally on April 9, leading to a rebound in overall risk appetite for crypto assets. ZEN broke out with surging volume on the same day, with trading volume more than tripling the previous average and a single-day increase of nearly 9%. This heightened sentiment helped ZEN quickly climb from $5.35 to $5.84, significantly boosting short-term bullish confidence.

Bitcoin surged past $72,000, rising about 3% to approximately $72,300, driven by easing tensions in the Middle East. Israeli Prime Minister Netanyahu reportedly initiated talks with Lebanon, supported by Trump's call for reduced Israeli military actions to maintain a ceasefire. Bitcoin's 24-hour gain of around 2% outpaced other major cryptocurrencies and coincided with a rebound in U.S. stocks and a drop in oil prices. Bitcoin is increasingly decoupling from tech stocks, influenced more by geopolitical and risk-averse factors.

Analysis: Bitcoin breaks through $72,000, Middle East ceasefire expectations boost market sentiment.

Following the surge, Bitcoin rapidly corrected after hitting key resistance on April 10, displaying technical signs of a pullback from high levels with increased volatility catalyzed by negative gamma effects. ZEN set a high of $6.62 on April 11 before sharply retracing the same day, then fluctuated widely around the $6.00 mark over the following days. After breaking below the key $5.70 support on April 12, ZEN saw a short-term rebound, but trading volume noticeably declined and bearish defensive intent increased. During this phase, bull-bear divergence was evident in repeated testing near key moving averages without sustained volume expansion.

Bitcoin has surpassed a four-week high, rising above $74,000. Analysts identify $75,000 as a critical "volatility release point," where derivative market negative gamma effects may amplify price fluctuations. This level coincides with Bitcoin's 100-day moving average, a key resistance in January. Breaking $75,000 could accelerate an uptrend, while a pullback may increase downward pressure. The $80,000–$80,600 range is a positive gamma zone with lower volatility, and the 200-day moving average at $87,519 serves as a long-term reference.

Analysis: Bitcoin breaks four-week high, key price range may intensify market volatility

On the daily chart, since forming support around $5.00–$5.15 at the end of March, ZEN has continued to oscillate above $5.15, with rebound momentum not fully released yet. If bulls can regain a solid hold above the psychological $6.00 mark with increased volume, there is a chance to challenge the previous high of $6.62; continuous failure to break through would increase the risk of losing short-term support around $5.63. Over the mid to long term, if overall crypto market risk control returns to normalcy, ZEN is likely to establish a more defined trend confirmation range within $5.00–$6.50.

Horizen

It’s not a given that the European Central Bank’s next move on interest rates will be a hike, according to Governing Council member Martins Kazaks.

Kazaks: Will not oppose bets on two interest rate hikes this year

Waller: Rapid resolution of the Middle East situation may allow for interest rate cuts later this year.

Waller: Overall PCE inflation year-over-year in March may reach 3.5%

The Federal Reserve's Waller expressed caution regarding interest rates, warning of the risks of prolonged warfare.

Fed's Daly: Rates May Remain Unchanged

Daly: The federal funds rate is slightly above the neutral level of 3%.

UBS Expects 50 bps Fed Rate Cuts as Gov Miran Downplays Inflation Risks

Federal Reserve's Daly: On hold regarding interest rates.

Easing tensions in the Middle East combined with rising expectations of interest rate cuts have pushed gold close to $4,900.

Bybit-eu

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Horizen Price: ZEN Live Price Today | ZEN Market Cap & Chart Analysis | Bybit-eu

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ZEN price today is 5.94, with a live price change of 0.12 in the last 24 hours. Convert, buy, sell and trade ZEN on Bybit-eu.

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