The chart of Horizen ($ZEN ) against Tether (USDT) presents the following information:
1. **Current Price**: ZEN/USDT is at 11.95, with a negative variation of -1.48%.
2. **Technical Indicators**:
- **Fibonacci Retracement**: Levels of 2.618 (16.26) and 1.618 (14.47).
- **SuperTrend**: Several levels indicate support and resistance zones.
- **200 Period Moving Average (200-MAR)**.
3. **Candlestick Patterns**:
- **Bullish Patterns**: Hammer, Inverted Hammer, Bullish Engulfing, Rising 3, Morning Star, Tweezer Bottom.
- **Bearish Patterns**: Hanging Man, Shooting Star, Bear Engulfing, Falling 3, Evening Star, Tweezer Top.
### Analysis
1. **Fibonacci Levels**:
- The current price is below the main Fibonacci levels (2.618 and 1.618). If the price breaks above 14.47 (1.618), it could indicate a potential recovery to 16.26 (2.618).
2. **Support and Resistance Indicators**:
- The 200-period moving average (200-MAR) can serve as dynamic support. If the price remains above this line, it is a good sign of long-term support.
3. **Candlestick Patterns**:
- The presence of bullish reversal patterns (such as Hammer and Morning Star) suggests a possible trend reversal if confirmed.
### Price Forecast
- **Short Term**: Price may continue to test current support around 11.95. If there is a bullish pattern forming and breaking nearby resistance (e.g. above 12.00), it may indicate an upward movement.
- **Medium Term**: If the price breaks and sustains above the 1.618 Fibonacci level (14.47), the price is likely to reach 16.26.
- **Long Term**: Keep an eye on the 200-period moving average for signs of strong support. If the price remains above this average, long-term sentiment remains positive.