Technical Analysis for $ZEN
/USDT:
Current Price: $15.53 (up 7.18% in 24 hours)
Resistance Levels:
First Target (T1): $15.85 – This is the recent high point, and a potential level to test if the price continues upwards.
Second Target (T2): $16.50 – This level is based on previous price action, marking a higher resistance.
Third Target (T3): $17.00 – A breakout target if upward momentum persists, pushing beyond key resistance points.
Support Levels:
$13.46 (24h Low) – Strong support, any drop to this range should be watched for potential reversal or consolidation.
Momentum:
Bullish: The price has shown a positive momentum of 7.18% increase in the last 24 hours, suggesting a continuation of upward momentum if it manages to break through key resistance at $15.85 and above.
MACD & RSI Indicators: Indicate a potential for sustained bullish sentiment, but keep an eye on any signs of overbought conditions (RSI > 70) which could trigger a pullback.
Trade Signal:
Entry: Above $15.53 (market price), targeting the next resistance levels ($15.85 and $16.50).
Stop-Loss: Below $13.46 to limit downside risk.
Keep a close watch on momentum shifts, especially as it nears key resistance levels. Consider a gradual take profit strategy at T1, T2, and T3 for optimal risk management.