Horizen (ZEN) - Bullish divergence

Continuing along the theme that the best opportunities are found in alt-tokens…

On the above 2-day chart price action has corrected 80% since May 2021. A number of reasons now exist to be bullish , including:

1) The ‘incredible buy’ signal.

2) Regular bullish divergence . Multiple oscillators are currently printing positive divergence.

3) Price action tests an area of strong support and resistance . (10-day chart below)

4) That same support / resistance is also the Fibonacci 0.786 level, fantastic.

5) This token is on the ‘what if’ list.

Is it possible price action falls further? For sure.

Is it probable? Very unlikely.

Good luck!

Ww
PS: I’m not trading this so please ask below for updates.

Type: trade
Risk: <=6% of portfolio
Timeframe: 3 to 9 months
Return: don’t know

10-day chart