🧐 ZEN Update: Ready for a breakout after that pump?
📈 **Current Stats:** Price at 9.287 USDT, up +15.67% in 24h, with solid volume of 17.08M USDT – shows strong buyer interest!
🔍 **Daily Chart Trend:** Uptrend emerging after breaking the downtrend line; was sideways but recent surge signals bulls taking control. (Teach: Breakouts like this often follow high volume, confirming shift from sellers to buyers.)
🔑 **Key Levels:** Support at 7.819 (recent low) and 8.010 (EMA50 for cushion). Resistance at 9.533 (24h high) and 10.051.
📊 **Indicators:**
- **EMA (50 & 200):** Price above both (9.287 > 8.010 & 9.255) – bullish golden cross potential! (Teach: Being above these EMAs indicates sustained upward momentum.)
- **RSI (14):** Likely overbought (>70) after the spike – watch for pullback.
- **MACD:** Bullish (histogram positive at 0.138) – momentum favoring buyers.
🔍 **4H Chart:** Similar bullish vibe with price pushing highs; trend up, supports at 8.142 (EMA20), resistance near 9.5. Indicators align: above EMAs, RSI neutral-overbought, MACD bullish.
**TRADE SETUP:** Strong BUY signal here!
- 3 Reasons: 1) Breakout above EMA200 on high volume, 2) MACD confirming bullish momentum, 3) Price holding above key supports post-pump.
- **Entry Zone:** 9.0 - 9.3 (current range for dip buy)
- **Stop Loss:** Below 8.010 (about -12% from entry)
- **Take Profit:** TP1: 10.0, TP2: 11.0
**Note:** ZEN's price action is correlated with Bitcoin's movement.
#DYOR
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