$ZRO ZRO/USDT 1-Hour Analysis: Bullish Surge Hits Resistance

Market Overview:

• Last Price: $5.9724 (+21.04%)

• Break-Even Price: $5.2324 – Strong profits realized for prior longs.

• 24H High: $6.035 – Approaching major resistance.

• 24H Low: $4.7937 – Reflects the prior consolidation base.

Indicators:

1. Moving Averages:

• MA(5): $5.3181 – Price far above, indicating strong short-term bullish momentum.

• MA(50): $4.8994 – Key support area for potential retracement.

2. RSI:

• RSI(6): 96.65 – Deeply overbought, suggesting a likely correction.

• RSI(12): 90.11 – Confluence with overbought conditions.

3. MACD:

• Strong bullish momentum, but divergence forming, indicating potential slowdown.

4. OBV:

• Significant volume spike, highlighting high buying pressure at current levels.

Support & Resistance:

• Immediate Resistance: $6.035 – Strong psychological and technical barrier.

• Immediate Support: $5.500 – A retracement zone for potential bounce.

• Key Support Zone: $5.200 – Break below may shift momentum to bearish.

Trading Plan:

• Bearish Scenario (Short Position):

• Entry: Around $5.9500–$6.0000

• Target 1: $5.500

• Target 2: $5.200

• Stop-Loss: $6.100

Summary:

ZRO/USDT has surged significantly, testing the $6.000 level. However, overbought RSI levels and early signs of divergence in MACD hint at a potential pullback. Swing traders should look for opportunities to capitalize on a bearish correction with well-defined stops. Profit-takers at this stage are likely to contribute to increased selling pressure.

Stay tuned for the next key moves!