$ZEN /USDT Analysis: Explosive Momentum – Watch for Continuation
$ZEN is trading at $25.30, up by 10.87% over the past 24 hours, with a high of $25.91 and a low of $22.05. The price has surged significantly, driven by strong bullish momentum and high volume, suggesting the potential for further gains.
Key Indicators:
RSI (6): 77.07 – Overbought territory, signaling caution for a potential pullback.
MACD: Strong bullish crossover, indicating sustained upward momentum.
Volume: Spiking significantly, confirming buyer interest.
Key Levels to Watch:
Resistance: $25.91 – A breakout above this level could target:
Target 1: $27.00
Target 2: $28.50
Support: $24.40 – A retest and hold here would confirm bullish strength.
Trade Setup:
Entry Point: Around $25.30 for continuation if volume remains high.
Stop-Loss: Below $24.00 to manage downside risk.
Market Insight:
ZEN's breakout rally is supported by strong momentum and rising volume. However, the overbought RSI suggests a possible short-term consolidation or pullback before the next leg up. Monitor the $25.91 resistance level closely for breakout confirmation.