Brief analysis of the graph #ZkSync
1. Trend:
• Price increase after the support level of 0.0800.
• Recently reached a local peak at 0.2950, after which a correction began.
2. Key levels:
• Support level: ~0.1481.
• Resistance level: ~0.2269 (the current pullback is happening from this level).
3. RSI indicator:
• RSI(6) = 55.84 – neutral zone, but declining, indicating weakening momentum.
4. Moving Averages (MA):
• MA(5) and MA(10) still indicate an uptrend, but their convergence may signal a potential trend change.
Current situation:
The price is in a correction phase after a strong growth. There are no signals of a continuation of the trend yet, but the lack of a significant drop in volumes indicates that the market is not yet completely weakened.
Recommendations:
• If you are in a position: Watch the level of 0.1481. If it is broken, a deeper drop is possible.
• If you plan to enter: Wait for confirmation of a reversal or a breakdown of the 0.2269 level to enter a long position.