🔥
$ZEN stuck in consolidation phase, but there's a subtle bullish vibe underneath it all. Not screaming "buy" yet, but worth watching. For trading on 1-hour timeframe, I'd for a cautious long if you're playing the breakout.
On the volume side, those recent 1-hour candles are showing a drop-off (like the latest one at just 31,414 compared to over 505,000 when it hit that 9.145 peak). It feels like the market's not fully committed to a big move, which fits the sideways action we're seeing.
Diving into capital flows: Short-term stuff on 5-min and 15-min charts looks decent with some inflows (around 24k and 78k), hinting at a bit of upside push in the near term. But zoom out to 4-hour and 24-hour, and it's a different story – heavy outflows dominating (-279k and -3,9M), pointing to some real selling pressure lurking. Spot market's doing the same, with consistent outflows (-236K on 4H and -428K on 24H). Overall, it's like the short-term bounces are fighting against a cautious, wait-and-see mood.
Entries longs
$ZEN : If you're aggressive, jump in around 8.82-8.85 where that MA5 support is holding, but keep a super tight stop to protect yourself.
- More conservative? Hold off until it breaks above Resistance level at 9.026, and make sure there's solid volume backing it (like a candle over 300k to confirm).
For stops, I'd set it about 3% below your entry – say 8.58 if you get in at 8.85. That lines up nicely with Support level around 8.553
Targets
$ZEN Aiming for 9.177 (that's Resistance level) up to 9.338 (next resistance).
#zen #ZENUSDT #horizen