Assessing ZEN’s bullish market structure – How long will momentum hold now?

Horizen (ZEN) has started the week with a sharp bullish move, climbing by 12% over the last 24 hours as buyers regained clear control of the short-term price action.

The rally followed a fresh bullish structure shift on the daily chart. Such a shift often marks the first meaningful sign that momentum may be beginning to rotate back in favour of buyers.

This shift matters more than the daily gains themselves as the price had been compressing before the breakout. However, the latest move pushed ZEN beyond that short-term structure and confirmed a change in market direction – Evidence of momentum expansion.

Open Interest surge – A sign of stronger conviction?

One of the clearest signs supporting the rally has been the sharp rise in Open Interest. Over the last 24 hours, ZEN’s Open Interest climbed by 24% to $19.2 million, tracking closely with the price hike.

In the past, similar alignments have hinted at fresh capital entering the market rather than a move driven by short covering alone. In simple terms, traders are not just reacting to the breakout. Instead, they may be adding exposure to it.

This behaviour lends the current rally more weight, implying that bullish conviction may be beginning to build under the surface.

Funding rates still point to undervalued conditions

Here, derivatives add another constructive layer to the altcoin’s price action. Despite the recent bullish move, the network’s funding rates still seemed to highlight undervalued market conditions.

That matters because it implies the rally is not yet being driven by excessive leverage. In many cases, strong bullish moves begin to lose stability once funding becomes crowded. ZEN has not reached that point yet.

Instead, buyers could be still adding more orders into a market that has room to expand without immediately becoming overextended. This would give the move more flexibility if demand continues to build in the market.

Momentum now favours continuation

ZEN’s setup has improved over the last 24 hours. The price has shifted structure, Open Interest is rising with conviction, and funding conditions still leave room for a further bullish run. That combination usually supports continuation rather than exhaustion.

As long as ZEN holds above the demand zone at around $5.973, the press time rally looks more likely to extend than fade. As it stands, the token’s price action momentum is under bulls’ control, with the latest structure shift suggesting this move may still be in its early stages.

The next target for the bulls is the imbalance zone between $8.250 and $8.750.

Final Summary

• ZEN shifted bullish on the daily chart as price and Open Interest rose simultaneously
• Funding rates seemed to point towards undervalued markets – A sign that the rally may still have room before conditions become overheated.