In the digital age, data privacy is one of the main factors sought by both individuals and businesses.
On this front, Horizen (ZEN) announced that it will create a custom sidechain for LTO networks on the Zendoo platform to add a layer of security to daily network operations while maintaining the GDPR compliance side.
Horizen has also partnered with Dragonchain to hide the sensitive information of its users and only share the necessary data.
Bitcoin’s halvings have proven to rise for the price, and Horizen appears to be showing a similar trend after the first halving on December 1. The ZEN token has also been recently listed on Binance USA, Binance futures contracts and Binance’s loan platform.
The decision of the project to join Messari can increase trust among the community and investors.
ZEN rose from an intraday low of $ 13.20 on January 8th to $ 31 today, rallying 134% in five days. The Altcoin climbed above the $ 19.70 overall resistance on Jan. 10, indicating the possible start of a new uptrend.
Although the bears pulled the price to $ 17,211 on January 11, aggressive buying from the lower levels kept the uptrend intact.
Today, the bulls are trying to build on yesterday’s recovery, but the long wick on the candlestick shows profit taking from the $ 31 level.
However, if the bulls do not allow the price to drop below the 38.2% Fibonacci retracement level at $ 22.32, the uptrend could continue with the next target to $ 37,308 and then to $ 46,271.
If the ZEN / USD pair drops from current levels and drops below $ 19.70, this bullish outlook will become invalid. Such a move will suggest rejection at higher levels.