ZBCN - Exiting from stage 1!
Price Action Overview
The price has broken above previous resistance levels with strong bullish momentum, accompanied by a spike in volume.
The breakout occurred after a long period of consolidation, where the price was moving sideways with relatively low volatility.
The RSI is above 74, indicating the asset is currently in an overbought zone, which could lead to either a pullback or further continuation if momentum remains strong.
The moving averages (4EMA) are trending upwards, confirming bullish momentum.
Key Levels & Possible Targets
Support Levels:
0.00133 USDT → Previous resistance now acting as support.
0.00157 USDT → Another key level where price might find support if it pulls back.
Resistance & Potential Targets:
0.00177 USDT (Current level) → Price is testing this area, a strong close above could lead to further upside.
0.00200 USDT → Psychological resistance, a key level to watch.
0.00250 USDT → If momentum continues, this could be the next target.
Possible Scenarios
Bullish Continuation 🚀
If price holds above 0.00157 and consolidates, another breakout could push it towards 0.0020 – 0.0025 USDT.
Strong volume confirms the uptrend.
Pullback Before Further Upside 🔄
Since RSI is overbought, a short-term retracement to 0.00157 – 0.00133 before resuming the uptrend is possible.
A retest of previous resistance turned support would be healthy.
Breakdown & Rejection ❌
If price fails to hold support at 0.00133, it could drop back to previous consolidation levels.
Conclusion
The trend is currently bullish, but a short-term retracement is possible due to overbought RSI. If the price holds above key support levels, the next targets would be 0.0020 – 0.0025 USDT.
