ZEN price under pressure, short-term bears intensifying again?

Support and resistance analysis:

• Current price: $27.34

• Key support level: $27.10 (recent low support)

• Secondary support level: $26.55

• Short-term resistance level: $28.03 (MA7 resistance)

• Strong resistance level: $28.93 (MA25 resistance level)

Technical analysis:

1. Moving average trend: The price is currently below the MA7 and MA25 moving averages, and both MA7 and MA25 are turning downwards, with bears in control.

2. MACD signal: DIF and DEA are spreading below the zero axis, with the red bars showing signs of shortening, but bearish pressure remains evident.

3. Volume observation: Trading volume remains sluggish, with insufficient market activity, lacking bullish momentum, making it difficult to form an effective rebound.

Strategy suggestion:

• Bearish strategy: If the price falls below $27.10, consider opening a short position with a stop-loss set at $27.50, targeting $26.55 and $25.80.

• Wait-and-see strategy: If the price cannot effectively break above $28.03, it is advisable to remain on the sidelines and wait for a clearer direction.

Risk warning:

Current trend favors bears, but the possibility of a technical rebound cannot be ruled out. It is recommended to operate with a light position and maintain strict risk control.

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