$ZEN 🤑💰🔥💯

/USDT Technical Analysis – Binance Update

The $ZEN /USDT trading pair is experiencing significant volatility today, showing a sharp drop of 17.38%, with the current price at $23.20. Here's a breakdown:

Resistance Levels:

$24.50 (immediate resistance)

$29.00 (key level to reclaim bullish momentum)

Support Levels:

$22.50 (near-term support)

$20.00 (critical support in case of further decline)

Trading Volumes:

24h High: $29.68

24h Low: $22.97

24h Volume: 1.88M ZEN (~$48.62M in USDT)

Observations:

The price dipped below $23, indicating bearish pressure.

If support holds at $22.50, we might see a consolidation phase or a bounce toward $24.

A break below $22.50 could lead to further declines, targeting $20.

Key Indicators:

RSI (Relative Strength Index): Approaching oversold territory, signaling a possible reversal soon.

Moving Averages: Price is below the 50-day and 200-day moving averages, confirming a bearish trend.

Traders should monitor closely for potential buying opportunities near support zones or a breakout above resistance levels for a bullish trend shift.

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