$ZEN Price Prediction for December 28

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ZEN has faced a sharp decline of -14.57%, currently trading at $28.78. This significant drop highlights strong bearish pressure, with market sentiment leaning toward caution. Traders should monitor key support levels to assess the likelihood of a recovery or further downside movement.

Bearish Momentum in Play

The sharp decline signals an intensification of bearish sentiment in ZEN’s market. While the overall market remains under pressure, ZEN's recent price action suggests a deeper correction phase. However, its relatively low circulating supply could add volatility, making it crucial for traders to act cautiously.

Critical Support and Resistance Levels

The immediate support lies around $27.00. If this level fails to hold, ZEN could retrace further to $24.00 or even $20.00, which represent historical support zones. On the upside, resistance levels to watch are $30.50 and $33.00. Breaking above these levels could indicate the start of a potential recovery.

Short-Term Market Behavior: Oversold Conditions

ZEN’s current price action may suggest oversold conditions in the short term, increasing the possibility of a technical rebound. However, sustained bullish momentum will require breaking key resistance levels. Until then, the bearish trend remains intact.

Key Levels for Risk Management

For traders, maintaining focus on the $27.00 support is essential. A breakdown below this level could trigger further selling, while a recovery above $30.50 may offer a more optimistic outlook. Monitoring trading volume is equally important to gauge market interest and momentum shifts.

In conclusion, ZEN needs to stabilize above $27.00 to prevent further downside. A recovery toward $30.50 or higher could indicate a shift in sentiment, but the bearish pressure may persist in the near term.