Here's the latest analysis update for ZENUSDT:
Current Market Situation
ZENUSDT is currently trading at $9.66 against USDT, with the Relative Strength Index (RSI) indicating a bearish phase across all three timeframes: 4-hour (35.60), 1-day (44.15), and 7-day (53.78) chart. However, the Moving Average Convergence Divergence (MACD) suggests a bullish momentum on the longer-term chart.
Key Levels to Watch
The support levels are at $8.61, $8.03, and $7.65, while the resistance levels are at $11.13, $11.88, and $13.39 on the 4-hour chart. On the 1-day chart, the support levels are at $8.61, $7.35, and $6.62, while the resistance levels are at $11.88, $13.46, and $16.85.
Trade Ideas
Some analysts suggest a long position, with entry points between $8.380 and $8.61, targeting $11 or higher. Others recommend waiting for a breakout above the descending triangle pattern, which could lead to a significant price movement [2).
Important Notes
Keep in mind that market conditions can change rapidly, and it's essential to consider other factors and conduct thorough analysis before making investment decisions . Always use stop-loss and take proper knowledge before investments.
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