Analysis of $ZRO on a daily timeframe

The ZRO currency has been moving within a symmetric triangle for a while, and the price is currently testing a very important daily support area at levels of 1.90 – 1.93 USDT, which is a sensitive area that may determine the price path in the coming days.

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🔺 Bullish Scenario:

If the price remains above this support and clear reversal signals appear:

• We may see a rebound towards 2.20 as the first target.

• Then 2.50 – 2.80 if the buying momentum continues.

• A clear breakout above the upper triangle line may open the way towards 3.67 as a major resistance level.

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🔹 Bearish Scenario:

In case of a strong daily close below the support area of 1.90:

• The price may head towards a lower demand area between 1.70 – 1.50 USDT.

• This scenario weakens the likelihood of an upward movement in the short term.

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📊 Momentum Indicators:

• The RSI indicator is close to oversold levels at 33, which means the price may be preparing for a rebound.

• The MACD indicator is still negative but shows a slowdown in selling momentum, which may pave the way for a trend change soon.

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📍 Important Watch Area:

• Any clear rebound from 1.90 – 1.93 or a strong reversal candle at this level may represent a short-term entry opportunity.

• A false breakdown followed by a rebound is also a possible scenario.

🛡️ Suggested Stop Loss:

• A clear daily close below 1.89 negates the positive scenario for a period.