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Zenanalysis

ZEN has a bearish patternOn the chart, in large time frames, you can see a large QM on the chart, which can give us a good trading setup. The right shoulder of QM is also completed. In this shoulder, you can look for close supply ranges. We will look for sell/short positions in the specified supply range. The targets are marked on the chart Closing a daily candle above the invalidation level will violate the analysis For risk management, please don't forget stop loss and capital management When we reach the first target, save some profit and then change the stop to entry Comment if you have any questions Thank You
by behdark
1
ZENUSDT.1DUpon reviewing the daily chart for ZEN/USDT, I observe the following from a technical analysis standpoint: Bollinger Bands (BB): The price has made a decisive move above the upper Bollinger Band, which is often considered a signal of strong bullish momentum, although it can also suggest overbought conditions. The price extending above the band could mean that we're experiencing a period of high volatility. Zig Zag Indicator: The Zig Zag lines show significant peaks and troughs, indicating a highly volatile market for ZEN. The latest movement shows a sharp increase in price. Relative Strength Index (RSI): The RSI is currently around 68.45, which is nearing the overbought territory (70 and above), suggesting that the asset may be becoming overbought. However, it's not uncommon for the RSI to remain in overbought territory during a strong trend. Moving Average Convergence Divergence (MACD): The MACD line is above the signal line and the histogram is positive, both of which suggest bullish momentum. The widening gap between the MACD line and the signal line emphasizes this bullish sentiment. Volume: Again, volume isn't visible here, but it would be important to correlate the price movements with volume for confirmation. High volume would add confidence to the bullish signals. Conclusion: Based on this chart, I sense a strong bullish trend, underscored by the recent breakout above the upper Bollinger Band and positive MACD. However, given the RSI's proximity to the overbought zone, I would be cautious about a potential pullback or consolidation in the near future. My strategy would be to consider taking some profits while setting a trailing stop loss to protect from a downside. If I were looking to enter a new position, I would wait for a potential retracement or consolidation to avoid buying at a peak. It's crucial to monitor the RSI and MACD for signs of weakening momentum and be ready to adjust my position accordingly. Remember, while technical analysis can guide decisions, it's also important to consider fundamental factors and market news that could affect the price action.
by MarsSignals
Buy ZEN on the bottom, it will flyFirst of all we have bullish CH and BOS on daily and weekly time. In the upper areas, there is a lot of liquidity pool that candles have a great desire to sweep. After a BOS, price is pulling back to lower areas to collect buy orders. buy zone and targets have been specified. Closing a weekly candle below the green range will violate the analysis For risk management, please don't forget stop loss and capital management When we reach the first target, save some profit and then change the stop to entry Comment if you have any questions Thank You
by behdark