$ZEN Technical Analysis of ZEN/USDT – Price Action and Target Levels 🎯
As we analyze the ZEN/USDT pair, the price has seen notable volatility, with a recent 11.51% drop to its current level of 20.45 USDT. Here's a breakdown of the key points and price targets to watch for:
Key Levels:
24h High: 23.69 USDT
24h Low: 19.01 USDT
Current Price: 20.45 USDT (≈ Rs 5,699)
Target 1: Support Level at 19.01 USDT
The first target on the downside is the 24-hour low at 19.01 USDT. If the price continues to face selling pressure, this level could act as support. A bounce here might provide buying opportunities, depending on market conditions.
Target 2: Resistance Level at 23.69 USDT
The 24-hour high at 23.69 USDT is a crucial resistance level to monitor. If the price starts to recover, breaking above this resistance could indicate a potential bullish trend and a further move upward.
Target 3: Moving Average at 22.04 USDT
The 5-period moving average (MA) is currently showing 22.04 USDT. This could serve as an intermediate target if the market shows a rebound. A breakout above this level might signal an uptrend towards higher targets.
Technical Indicators:
EMA and Bollinger Bands are showing consolidation, indicating possible price movement in either direction.
MACD shows neutral momentum at the moment but is something to keep an eye on for potential bullish or bearish crossovers.
SAR and AVL also confirm that the market is in a potential range-bound phase.
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