As US funds refocus on the compliance privacy track, @horizenglobal announced that $ZEN will be migrated to Base, becoming one of the potential narratives that has been underestimated recently. Base itself is the L2 with the most active users and the strongest capital inflow. $ZEN uses this to complete liquidity and narrative reconstruction, and has the possibility of a second launch. Migration to Base on the chain is a clear catalyst, but the real key is this round of price structure. At the end of June, it started from the stage low of 6.41, and continuously broke through multiple moving averages with large volume, reaching a maximum of 12.34, and the increase was nearly doubled in just two weeks. Recently, it has pulled back to the 8.4-8.5 range, just stepping on MA25 and MA99, and the chip concentration area forms support. MACD fast and slow lines are about to stick together, RSI remains neutral and strong, and the volume is reduced but not cliff. As long as it does not fall below 8.2, it is still a strong consolidation structure. The upper short pressure is still the 12 US dollar mark. Once it breaks through, it will enter the previous high no-lock zone. The next target may be the 15-16 range.
The narrative is there, the graph has come out, and the position is just right. The rest is how the market will respond.