TradeCityPro | ZROUSDT Analysis Is It DeFi’s Turn to Shine👋 Welcome to TradeCityPro Channel!
Let’s dive into the analysis of ZRO, one of the popular DeFi coins. Recently, it has broken out of its consolidation range, signaling potential movement in the coming week.
🌍 Bitcoin Overview
Before diving into ZRO, let’s take a quick look at Bitcoin. Last night, BTC finally broke its 103,504 resistance, reaching a new ATH of 106,488.25!
Bitcoin dominance also ticked green, albeit mildly, allowing a few altcoins to move alongside. However, this Bitcoin leg-up is likely to maintain dominance growth.
📅 Weekly Timeframe Analysis
ZRO is relatively new, with only 26 weekly candles in its history. It’s a coin that distributed a portion of its tokens via airdrops to active users within its blockchain ecosystem.
Unlike other airdropped tokens, ZRO experienced less sell pressure and consolidated for about 20 weeks, providing excellent liquidity-building opportunities for us. Recently, it broke out of this box, indicating potential for further upward movement.
The weekly candle that closed last night reflects strong buyer presence despite some selling pressure. It’s a good buying opportunity with stop-buy entries and stop losses at 5.108 (risky) or 3.016 (safe).
🌞 Daily Timeframe Analysis
On the daily chart, ZRO recently broke the 5.033 resistance and formed a new resistance at 7.192, from which it faced a strong rejection. Unlike many other altcoins still stuck in corrective zones, ZRO has already returned to its recent highs.
After breaking 7.192, you can consider buying on this timeframe with a large stop loss at 4.068 or wait for consolidation at the daily range’s bottom before entering for a mid-term hold.
For added security, move your ZRO holdings to decentralized platforms and participate in the DeFi ecosystem to maximize benefits.
It’s important to watch for confirmation of the 7.192 breakout. Although volume increased during bullish moves and decreased during corrections, a strong breakout needs to be accompanied by high volume. The breakout of 65.45 RSI could also act as a strong trigger for momentum entry.
⏰ 4-Hour Timeframe Analysis
For futures positions, a strong resistance level has formed on the 4-hour chart. Breaking this resistance would provide clear triggers for the week ahead.
📈 Long Position Trigger
breakout above 7.012. The recent rejection strengthened the importance of this level. After breaking this resistance with increased volume, opening a long position becomes a viable option.
📉 Short Position Trigger
At this point, I’m not considering short positions. However, if the ascending trendline breaks, I’ll reconsider. For now, I’ll continue searching for lower-level long triggers in case buyers temporarily lose strength.
💡 BTC Pair Insight
Against BTC, ZRO has shown strength recently, moving toward its range high. A breakout above 0.00007239 would set the stage for significant upward movement relative to BTC. This could lead to even greater performance in its USDT chart.
🎯 Summary
ZRO’s breakout from its consolidation range, coupled with strong buyer activity, suggests an exciting opportunity for both spot and futures traders. Keep an eye on critical resistance levels and volume confirmations to secure the best entries.
📝 Final Thoughts
Stay calm, trade wisely, and let's capture the market's best opportunities!
This analysis reflects our opinions and is not financial advice.
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