ZEN is pumping hard , what to do next?
Current Price: $10.87
24h High/Low: $11.23 / $8.32
Change: +29.40%
24h Volume: 1.67M ZEN / $16.37M
🔍 Technical Indicators Analysis
📈 Price Action
Strong green candle just printed, breaking above the consolidation range.
Price spiked from around $8.5 to $12.11 at the top wick, before settling near $10.87.
Previous local support at ~$7.80 held well.
🔁 Moving Averages
EMA 7: $9.37
EMA 25: $9.23
EMA 99: $9.41
All EMAs have recently crossed bullishly, especially the 7 EMA > 25 EMA > 99 EMA, indicating short-term bullish momentum.
📉 MACD (Bottom Indicator)
MACD Line (DIF): -0.01
Signal Line (DEA): -0.14
MACD Histogram: +0.13
The MACD line has crossed above the signal line, forming a bullish crossover. This supports the bullish breakout.
📊 Volume
Noticeable spike in volume accompanying the breakout, confirming strong buy-side interest.
🧠 Key Technical Levels
Immediate Resistance: $11.23–$12.11 (where it got rejected)
Support Zone: $9.30–$9.40 (near EMA cluster)
Stronger Support: $8.50 (previous range base)
Major Support: $7.80 (historical low on this chart)
⚠️ Interpretation
✅ Bullish Signals
Breakout above moving average cluster and previous range
Bullish MACD crossover
Strong volume spike
Price holding above key EMAs
❗️ Caution
Long upper wick suggests some selling pressure or profit-taking near $12.
After a 29% move, a pullback or retest of the $9.4–$9.8 range is possible.
Be wary of fakeouts or short squeezes.
Strategy Suggestions
For Traders:
Aggressive Entry: On small pullbacks to the $9.8–$10.2 zone with tight stop-loss
Conservative Entry: Wait for retest and confirmation above $11.23 resistance
Take-Profit Zones: $11.23, $12.11, and $13+ if momentum continues
For Long-Term Investors:
Look for sustained price above $9.4–$9.8 zone before adding positions.