🚨 Attention to $ZEN /USDT! 🚨 Today it is on fire with a +14.91%, trading at $11.624! It seems that this bullish rally still has some fuel, but beware of volatility and manipulation!
The chart shows us a strong bullish momentum that pushed the price to a maximum of $12.341 in the last 24 hours. Although there has been a slight pullback, the price remains above the 7 and 25 period moving averages ($11.642 and $11.585, respectively), which is a sign that the bullish trend is maintained. The key support to watch is the 99 period average at $11.080.
In the Long/Short average, we see a constant struggle. Although there is a good percentage of "Long Account %", there is also a significant "Short Account %", suggesting that some traders are betting on the downside. This dynamic can lead to "short squeezes" and more bullish momentum, but it also indicates that the market is very divided and that price manipulation is common to liquidate positions on both sides.
The taker buy volume has been dominant during the upward periods, showing strong interest from buyers. However, there is also considerable taker sell volume, indicating that there is profit-taking and resistance at higher levels.
In summary, ZEN/USDT is experiencing a strong bullish rally, but volatility and potential market manipulation are factors to consider. If it manages to break and consolidate above $12.341, we could see a continuation of the rally. HODL wisely and manage the risk, as nothing is given for free in this market!