๐๐๐จ$ZEN USDT trading signal with 15minutes Timeframe CURRENT ANALYSIS #BinanceLaunchpoolBIO โ โ
As of December 24, 2024, ZEN is trading at approximately $36.50 against Tether (USDT), reflecting a significant increase of about 30% over the previous close.
Technical analysis indicates a strong bullish trend:
Moving Averages: The 50-day and 100-day moving averages have formed a bullish crossover, suggesting sustained upward momentum.
Relative Strength Index (RSI): The RSI is currently above 70, placing it in overbought territory, which may precede a price consolidation or minor pullback.
Resistance Levels: Immediate resistance is identified at $31.84. A break above this level could propel the price toward the next resistance at $39.40.
Support Levels: Key support is established at $24.96. Maintaining above this level is crucial for the bullish outlook.
Given these technical factors, traders might consider entering long positions, targeting the resistance levels mentioned, while implementing appropriate risk management strategies. However, the overbought RSI suggests monitoring for potential short-term corrections.
