$ZRO ZRO/USDT Hourly Chart Analysis: Possible Rebound but Bearish Sentiment Dominates

Market Overview:

• Last Price: $6.4484 (+2.26%)

• 24H High: $6.78 – Momentum struggling to reclaim peak.

• 24H Volume: $154.1M – Decreasing interest after the recent spike.

Key Indicators:

1. Moving Averages:

• MA(5): $6.2348 – Price rebounding slightly above the short-term average.

• MA(50): $5.7221 – Still in bullish territory but narrowing gap with price.

2. RSI Levels:

• RSI(6): 68.81 – Approaching overbought conditions.

• RSI(12): 63.43 – Neutral but leaning towards bearish as momentum fades.

3. MACD:

• A weak bullish crossover; divergence needed to confirm trend continuation.

4. OBV:

• Neutral with a slight uptick; insufficient volume to sustain a strong reversal.

Support & Resistance Levels:

• Immediate Resistance: $6.50 – Likely selling pressure at this level.

• Key Support 1: $6.10 – A critical level for bulls to hold.

• Key Support 2: $5.70 – Stronger base aligning with previous consolidation.

Trading Strategy:

• For Bears:

• Short Entry: Around $6.45–$6.50 if rejected at resistance.

• Target 1: $6.10.

• Target 2: $5.70.

• Stop-Loss: $6.70 (above recent high).

• For Bulls:

• Long Entry: After a clear break and hold above $6.50.

• Target 1: $6.78.

• Stop-Loss: $6.10 (below key support).

Summary:

ZRO is at a crucial juncture, with weak momentum suggesting a potential bearish continuation unless bulls reclaim control. Swing traders should monitor the $6.50 level closely for confirmation of the next move. Caution is advised due to mixed signals and weakening volume.