$ZEN is currently in a consolidation phase, exhibiting a subtle bullish undercurrent. While not yet a strong 'buy' signal, it warrants close observation for potential breakout opportunities on the 1-hour timeframe. We are looking for cautious long Entry setups. đ§
Recent 1-hour candle volumes indicate a market lacking strong directional commitment. For instance, a recent candle registered just 31,414 in volume, a stark contrast to over 505,000 at its 9.145 peak. This subdued volume aligns with the ongoing sideways price action. đ
Short-term capital flows on 5-min and 15-min charts show some positive inflows (around 24k and 78k), suggesting minor near-term upward pressure. However, this is countered by larger market trends.
On 4-hour and 24-hour charts, significant outflows dominate (-279k and -3.9M), indicating underlying selling pressure. The spot market mirrors this, with consistent outflows (-236K on 4H, -428K on 24H). Overall, short-term bounces appear to be battling a prevailing cautious sentiment. âď¸
**Entry Longs $ZEN** đ
* **Aggressive:** Consider an Entry around 8.82-8.85, near the MA5 support. Implement a tight SL to manage risk effectively.
* **Conservative:** Wait for a confirmed break above the 9.026 resistance. This move should be validated by significant volume, ideally over 300k.
**SL $ZEN** đĄď¸
* Set SL approximately 3% below your Entry, for example, 8.58 if Entry is 8.85. This aligns closely with the 8.553 support level.
**TP $ZEN** đŻ
* Target 9.177 (Resistance 1) and potentially 9.338 (Resistance 2).
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