#zen
Significant Price Drop: The price has fallen by 15.21% in the past 24 hours, indicating strong bearish momentum.
2. Approaching Support: The price is near the lower range of $30.29 to $30.00, which may act as support if the selling pressure reduces.
3. Volume: The volume has been relatively lower compared to the 24-hour total, suggesting that while there is a decline, the market may still be consolidating or waiting for a catalyst.
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Trading Strategy Suggestions
1. For Buyers:
Watch for signs of a reversal near support at $30.29 or $30.00. If the price starts to consolidate or reverse with increased volume, this could be a good entry point.
Monitor for a breakout above $31.93 (MA 25) to confirm a recovery.
2. For Sellers:
Consider selling near resistance levels at $32.39 or $34.77 if the price retraces and faces resistance.
Look for further declines below $30.00 as a potential continuation of the bearish trend.
3. For Swing Traders:
Trade within the range between $30.00 and $39.50 if volatility decreases.
If the price breaks below $30.00, it could signal further declines, with next support at $25.00 or lower.