Horizen (ZEN) is currently priced at $6.34, reflecting a robust 9.72% increase over the last 24 hours. The daily trading range has been relatively narrow, oscillating between a low of $5.78 and a high of $6.36, indicating some volatility but also sustained interest.

The trading volume stands at approximately 16.88 million, representing 14.95% of the market cap, which signifies a healthy level of liquidity. Short-term moving averages show positive momentum, with the 8 SMA at $6.11 indicating a 3.72% increase, while the 55 SMA at $5.90 reveals a more substantial 7.42% gain, suggesting upward pressure on the price.

The 1-hour RSI is notably high at 92, indicating that ZEN is currently overbought in the short term. In contrast, the 7-day RSI is at 53, reflecting a more balanced perspective, while the 14-day RSI shows a bearish trend, aligning with the longer-term price changes, which are negative over 14 and 30 days.

Despite the recent uptick, ZEN has experienced a significant 49.28% decline over the past 30 days, highlighting ongoing bearish sentiment in the longer term. The price is substantially below its all-time high of $165.92, established in May 2021, underscoring the need for cautious optimism in this recovery phase.

Given the high short-term RSI and the negative trends over the longer timeframes, the recommendation is to adopt a "Hold" position. While recent performance is promising, the risks associated with overbought conditions and historical declines suggest that caution is warranted before considering new entries or increased exposure.