💎 ZEN has certainly captured the market's attention with its notable rise. Recently, ZEN has achieved a breakout from the Ascending Channel pattern, surpassing the supply zone at the $8.57 mark. Currently, ZEN is experiencing consolidation within a significant resistance zone.
💎 For continued upward momentum, it's crucial for ZEN to breach this resistance zone; otherwise, it may retreat to the demand zone to gather additional strength for another upward push. A successful breakthrough at the $9.50 resistance level, with a candle close above it, would likely signal a sustained upward trend, the probability ZEN toward the projected supply zone target.
💎 Conversely, in a less favorable scenario, should ZEN return to the demand zone without demonstrating a bullish rejection or a bounce, it may indicate vulnerability at this level. A failure to hold the demand zone could lead to a re-entry into the Ascending Channel, suggesting a false breakout. This would likely initiate a bearish phase, with the potential for ZEN to regress towards the support zone.
💎 For continued upward momentum, it's crucial for ZEN to breach this resistance zone; otherwise, it may retreat to the demand zone to gather additional strength for another upward push. A successful breakthrough at the $9.50 resistance level, with a candle close above it, would likely signal a sustained upward trend, the probability ZEN toward the projected supply zone target.
💎 Conversely, in a less favorable scenario, should ZEN return to the demand zone without demonstrating a bullish rejection or a bounce, it may indicate vulnerability at this level. A failure to hold the demand zone could lead to a re-entry into the Ascending Channel, suggesting a false breakout. This would likely initiate a bearish phase, with the potential for ZEN to regress towards the support zone.
Trade closed: target reached
Just like clockwork, #ZEN is tracing our forecast, hitting that sweet 20.79% growth mark.
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Disclaimer
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