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ZENUSDT trade ideas

ZEN/USDT Should bounce from the support for continue upward move💎 ZEN has recently displayed notable market dynamics, particularly as it rests on a support area, which is crucial for sustaining its upward momentum. A bounce from this support zone is essential for ZEN to continue its upward trajectory. 💎 Should ZEN successfully bounce from the support, it has the probability to resume its upward movement, aiming to break through the local resistance at $15.7. 💎 However, if ZEN fails to find support at the current level and breaks below the support area, it will signify weakness and could lead to further downward movement. In such a scenario, the next potential stop for ZEN would be at the lower support area around $9.6. 💎 Therefore, it is imperative for ZEN to bounce from the support area and reclaim levels above it to maintain its bullish momentum. Failure to do so could result in a continuation of the downward movement.
by MyCryptoParadise
ZENUSDT.1DUpon reviewing the daily chart for ZEN/USDT, I observe the following from a technical analysis standpoint: Bollinger Bands (BB): The price has made a decisive move above the upper Bollinger Band, which is often considered a signal of strong bullish momentum, although it can also suggest overbought conditions. The price extending above the band could mean that we're experiencing a period of high volatility. Zig Zag Indicator: The Zig Zag lines show significant peaks and troughs, indicating a highly volatile market for ZEN. The latest movement shows a sharp increase in price. Relative Strength Index (RSI): The RSI is currently around 68.45, which is nearing the overbought territory (70 and above), suggesting that the asset may be becoming overbought. However, it's not uncommon for the RSI to remain in overbought territory during a strong trend. Moving Average Convergence Divergence (MACD): The MACD line is above the signal line and the histogram is positive, both of which suggest bullish momentum. The widening gap between the MACD line and the signal line emphasizes this bullish sentiment. Volume: Again, volume isn't visible here, but it would be important to correlate the price movements with volume for confirmation. High volume would add confidence to the bullish signals. Conclusion: Based on this chart, I sense a strong bullish trend, underscored by the recent breakout above the upper Bollinger Band and positive MACD. However, given the RSI's proximity to the overbought zone, I would be cautious about a potential pullback or consolidation in the near future. My strategy would be to consider taking some profits while setting a trailing stop loss to protect from a downside. If I were looking to enter a new position, I would wait for a potential retracement or consolidation to avoid buying at a peak. It's crucial to monitor the RSI and MACD for signs of weakening momentum and be ready to adjust my position accordingly. Remember, while technical analysis can guide decisions, it's also important to consider fundamental factors and market news that could affect the price action.
by MarsSignals
ZENUSDT | 1W 👀The coin has shown relatively good growth dynamics and has broken out of the descending channel with a breakthrough of the trend resistance (upper boundary). It's better to limit risks in this case. - Not financial advice, trade with caution. ✅ Stay updated on market news and developments that may influence the price of Horizen. Positive or negative news can significantly impact the cryptocurrency's value. ✅ Exercise patience and discipline when executing your trading plan. Avoid making impulsive decisions driven by emotions, and adhere to your strategy even during periods of market volatility. ✅ Remember that trading always involves risk, and there are no guarantees of profit. Conduct thorough research, analyze market conditions, and be prepared for various scenarios. Trade only with funds you can afford to lose and avoid excessive risk-taking. #Crypto #Horizen #Investment #ZEN
by Nyskohuz
ZEN/USDT Primed for a Bullish Rally? 🚀👀 ZEN Analysis💎ZENUSDT is currently showcasing dynamic market movements, poised for a potential breakout from its descending channel pattern. 💎At present, #Horizen is experiencing lateral consolidation within a demand zone, which was once considered a supply area. There's a significant chance for the price to rebound from this zone and initiate an upward trend, aiming for the bearish OB area as its next milestone. 💎If ZEN does not manage to rebound and instead dips below the demand zone, it might regress to the Bullish OB area, around the $7.70 mark, in search of renewed impetus for an ascent. 💎The Bullish OB area has historically been a catalyst for notable recoveries upon its testing. Yet, a breach of this zone, affirming a bearish trajectory, could lead ZEN to seek bullish signals from a further depth. 💎Failing to find upward momentum from this subsequent level could perpetuate a downward trend for ZEN. Rest assured, we are here to navigate you through these market shifts.
Long
by MyCryptoParadise_Simon
ZENUSDT IDEAUPDATE Broken Falling Wedge in Weekly Time frame Positively. If holds over broken level, 100-120% increase in price may be seen COIN DETAILS Horizen (ZEN) Price today is $10.37, for the last 24 hours 964,463 ZEN coins were exchanged with a trading volume of $10,004,091. It's currently traded on 21 exchanges. The price is down by (-0.75%) for the last 24 hours. It has a circulating supply of 7 million ZEN coins and is ranked #393 by current Horizen market cap of $75 million.
Long
by Altcoin_Ninjas
ZENUSDT 1W#ZEN is moving inside a Descending Channel on weekly chart. We had a volume spike last week and price has broke the weekly MA50, which is a bullish sign. #ZEN is trying to get out of the Ichimoku cloud. In the next step we have descending line and weekly MA100. Wait for breakout and then enter to this coin. Targets are: $16.70 $23.70 $29.35 $35.00 $43.05 and $53.30 If price goes like what I said, we will have a big rounding bottom, which is another bullish pattern. Let see what will happen next.
by Bithereum_io