#DeFiGetsGraded Market indicators paint a cautious picture; the open interest for ZORA futures contracts rose by 47% over 24 hours, and the weighted funding rate turned negative, with the long-to-short ratio dropping below 1, indicating a growing trend of short selling.
Analyzing this, ZORA confirmed a breakout from the 'round bottom' pattern at a neckline of $0.095 and exited a parallel ascending channel, which are technical signals of continued upward momentum. However, reaching historical peaks raises the likelihood of profit-taking, which could temporarily halt the current upward wave.