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$ZEN Still Bullish Under the Hood, But Taking a Breather
ZEN has been on a nice run, and even though it's consolidating right now, the bias is definitely still bullish. The 4h chart shows some big volume spikes on those upward candles—like the one that hit 9.73 with 2.81M volume—which screams real buying interest when it pushes higher. Lately though, volume has dropped off, so it feels like a classic pause/consolidation phase.
Capital flows are telling an interesting story:
- Short-term (5m/15m) there's some negative flow—probably light profit-taking or hedging.
- But on the medium-term (4h/24h), we've got solid positive inflows (+517K and +698K). That's a sign of accumulated long positions building up.
- Spot is seeing outflows over 24h (-178K) and longer, which is pretty normal during these consolidation periods in perps—people selling spot while holding contracts.
*Bottom line
$ZEN : Cautiously bullish—still leaning long.
The structure looks healthy for more upside after this breather.
* How I'm looking to trade
$ZEN Best spot to jump in: Wait for it to pull back to that support area around 8.695–8.850 USDT.
- More aggressive: If it breaks above 9.618 (Resistance) with strong volume, that could confirm the bulls are ready to run again.
*Stop-loss: 8.400–8.500 USDT. That puts it below S2 support and the MA20 for decent protection.
*Targets:
- Primary: Resistance at 10.135 USDT
- If it gets going strong: Stretch to next resistance at 10.541 USDT.
Patience is key here—don't chase the highs. ZEN has the setup for another leg up, but waiting for that dip or breakout confirmation will give way better risk-reward.
#zen #ZENUSDT #horizen