Current price (2024-12-19, 11:51 UTC): $16.29
24 hours more: $16.50
24-hour low: $13.46
24-hour change: +9.18%
Key Support Levels:
1. $14.23: This is the recent low, and a strong support level for ZEN. It represents a previous consolidation point after a minor downward move.
2. $15.00: This price level also appears to provide a base for support. If the price returns to this level, it is likely that it could bounce upwards.
Key level annoyance:
1. $16.50: This is the 24-hour high and a key resistance point for the ZEN/USDT pair. A breakout above this level could indicate further upward momentum.
2. $16.60–$16.80: These levels are marked by previous highs, where the price faced rejection. If the price moves above $16.50, we could potentially see a struggle near $16.60–$16.80 before moving higher.
Market sentiment:
• Bullish momentum: The price has increased by +9.18% in the last 24 hours, indicating strong buying pressure.
• Volume: Trading volume is significant, indicating strong market participation, with 2,036,710.01 ZEN traded in the last 24 hours, equivalent to $30,833,814.75 in USDT. The high volume supports the continuation of the current trend.
Analysis of the next 30 minutes:
• If the price reaches $15.00, we expect it to either bounce higher or consolidate. Any move below $14.23 would indicate potential weakness, and further declines could follow.
• A strong breakout above $16.50 could test resistance at $16.60–$16.80. If the price successfully breaks through this level, further upward momentum is possible.
Recommended strategy:
Buy near support (around $15.00 or below).
Sell or take profit if the price reaches $16.50 or breaks above $16.80.
• Risk Management: Set a stop loss just below $14.23 to minimize potential losses in the event of a market reversal.