ZRO faces resistance challenge, market sentiment turns pessimistic
Over the past few hours, $ZRO has exhibited diverse price dynamics on the hourly time frame. Based on the latest data, this analysis will provide an in-depth look at several key technical trends that traders will need to pay close attention to.
The closing price of $ZRO gradually slipped from $4.205 to $4.124. It is worth noting that while the 9 EMA (exponential moving average) remains relatively stable in the range of $4.23 to $4.18, indicating a slightly sideways market trend, the 20 EMA slightly above this reveals a more obvious trend. A bearish signal.
Resistance levels currently set include $4.147, $4.153, and $4.278, and given the current downward trend, these levels seem difficult to easily break. The support levels are set at $4.112, $4.061 and $4.031. If these support levels are effectively broken down, it may indicate that the market outlook will be further bearish.
The Moving Average Convergence Divergence (MACD) indicator continues to decline, clearly reflecting the increasing selling pressure over the past few hours. The MACD sell signal has strengthened in each analysis period, while the histogram has also shown a similar downward trend, which further solidifies expectations that $ZRO may enter a downward channel.
In addition, the relative strength index (RSI) fluctuates in the range of 47.25 to 40.65. Although it has not yet touched the oversold zone, its steady downward trend reveals that trader sentiment is gradually turning pessimistic.
