$ZKC experienced a significant intraday surge of over 43%, rising from $0.1755 to a high of $0.2866 before a pullback. Currently trading around $0.23, it holds a daily gain of over 27%.
• Trading volume spiked to over $46.8 million, indicating strong trader interest and accumulation.
• The price has bounced from its all-time low of $0.109 but remains significantly below its all-time high of $2.13.
Key Catalysts
• A technical breakout from the $0.175 range attracted momentum traders, driving the price surge.
• Renewed interest in Boundless Protocol’s fundamentals, including its Proof of Verifiable Work (PoVW) mechanism, is evident on social media.
• ZKC benefits from recent listings on major exchanges, including Binance, and the launch of perpetual futures on Binance, increasing liquidity.
• The project's mainnet launch and key partnerships are also cited as long-term growth drivers.
Technical Analysis & Trading Strategy
• Technical indicators like a bullish MACD crossover and recovering RSI suggest short-term upward momentum.
• Immediate resistance is the intraday high of $0.2866, with a potential target of $0.30 if broken.
• Key support is found at the $0.268-$0.272 retest zone, followed by the $0.2300-$0.2400 area.
• The high volatility is noted as ideal for scalping, with traders suggesting strategies based on these levels.
Risk Factors
• After a large intraday pump, profit-taking and a corrective phase are expected.
• The longer-term trend remains bearish, with key Exponential Moving Averages indicating persistent downward pressure.
• Regulatory concerns exist, as a foreign exchange previously issued an "investment warning" citing transparency issues.
• The project's inflationary tokenomics, starting at a 7% annual rate, could create long-term selling pressure.
ZKC experienced a significant intraday surge of over 43%, rising from $0.1755 to a high of $0.2866 before a pullback. Currently trading around $0.23, it holds a daily gain of over 27%.
• Trading volume spiked to over $46.8 million, indicating strong trader interest and accumulation.
• The price has bounced from its all-time low of $0.109 but remains significantly below its all-time high of $2.13.
Key Catalysts
• A technical breakout from the $0.175 range attracted momentum traders, driving the price surge.
• Renewed interest in Boundless Protocol’s fundamentals, including its Proof of Verifiable Work (PoVW) mechanism, is evident on social media.
• ZKC benefits from recent listings on major exchanges, including Binance, and the launch of perpetual futures on Binance, increasing liquidity.
• The project's mainnet launch and key partnerships are also cited as long-term growth drivers.
Technical Analysis & Trading Strategy
• Technical indicators like a bullish MACD crossover and recovering RSI suggest short-term upward momentum.
• Immediate resistance is the intraday high of $0.2866, with a potential target of $0.30 if broken.
• Key support is found at the $0.268-$0.272 retest zone, followed by the $0.2300-$0.2400 area.
• The high volatility is noted as ideal for scalping, with traders suggesting strategies based on these levels.
Risk Factors
• After a large intraday pump, profit-taking and a corrective phase are expected.
• The longer-term trend remains bearish, with key Exponential Moving Averages indicating persistent downward pressure.
• Regulatory concerns exist, as a foreign exchange previously issued an "investment warning" citing transparency issues.
• The project's inflationary tokenomics, starting at a 7% annual rate, could create long-term selling pressure.
$MYX may be one day the trust of good and professional traders on binance may be lost due to these types of token listing, in only one day how much volatiles......