$ZEN /USDT: Bullish Momentum Takes Center Stage!
Current Price: $18.70
24-Hour High: $19.39
24-Hour Low: $14.55
ZEN has displayed a remarkable surge, rising sharply from its recent low of $16.54 to $18.70, signaling a strong upward momentum. This represents a +16.95% gain in 24 hours, with increased trading volume supporting the move.
Key Levels to Watch:
Resistance:
1. $19.39 (24-hour high): A breakout above this level could trigger further gains toward $20.50.
2. $20.00: Psychological resistance, where profit-taking may occur.
Support:
1. $17.50: Immediate support zone for pullbacks.
2. $16.50: Critical level to maintain bullish momentum.
Trade Setup:
Entry Point: Look for a retest around $18.20–$18.50 for potential long positions.
Targets:
1. $19.50 (short-term)
2. $20.50 (next resistance)
3. $21.80 (medium-term upside)
Stop-loss: Below $17.50 to minimize downside risk.
Market Insight:
The rapid price surge, coupled with a significant volume increase, suggests strong buying interest. Indicators such as MACD and RSI point to bullish momentum, but caution is warranted as the price nears overbought levels. A consolidation phase near $19 could provide additional entry opportunities for latecomers.
Pro Tip:
Consider partial profit-taking at $19.50 to lock in gains while keeping a portion of your position open for potential upside beyond $20. Maintain a trailing stop-loss to secure profits if momentum fades.
Stay vigilant for any rejection near resistance levels and watch market sentiment for signs of continuation or reversal. Plan your trades wisely!
