📈Technical Analysis: zkSync (ZK)
On the hourly chart of ZK, we see that after a deep fall, the price decided to take a timeout and went into a sideways movement. It's like after a marathon – even the most energetic runners need a rest! ⌛
How to trade?📈📉
Let's look at the channel boundaries.
📈 Breakout above the channel – buy!
📉 Breakout below the channel – sell!
⚠️Place stop-loss beyond the opposite boundaries of the channel.
🔼Set targets at historical levels.
❗️The profit/risk ratio doesn’t look enticing enough to jump into the fire. Therefore, the trade volume can be slightly reduced.
Conclusion:
ZK in a sideways movement is like a beast lurking before a jump. We don’t know which direction it will jump, but we will be ready to catch the movement in any direction. And remember, if something doesn’t feel right and raises concerns, you can always reduce the trade volume and leverage for such trades.
