ZRO Price Analysis: Bullish Momentum Builds on 1-Hour Chart

Over the past few hours, $ZRO has steadily risen, shifting from a low of $4.511 to a more robust $4.842. However, the price did seem to experience a slight decline to $4.831 in the last analyzed bar, instigating some caution amongst traders.

Looking at the exponential moving averages (EMAs), there's a definite upward trend. The 9 EMA, which reacts more swiftly to price changes, has been above the 20 EMA throughout the period, pointing towards a bullish market. It started at $4.461 and climbed to $4.639 while the 20 EMA started at $4.403 and moved up to $4.518.

However, it’s necessary to monitor the support levels closely. At around $4.419, $4.369, and $4.316, these could potentially dictate where the price may bounce back if it starts declining.

On the MACD indicator, an uptick has been recorded as well. The MACD line has maintained its position above the signal line, indicating bullish sentiment for #ZRO . The histogram, which shows the difference between the MACD line and signal line, also noted a slight increase, affirming the bullish trend.

The Relative Strength Index (RSI) has been above 50, indicating buying pressure on ZRO. However, noting values over 70, we see it leaning towards an overbought position, signaling a potential price correction in the near future.

The full analysis and trade strategy were posted on www.ecoinimist.com.