$ZORA /USDT โ Pullback Into Support After Parabolic Spike
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โ๏ธ $ZORA pumped hard to 0.01372 before sellers stepped in.
โ๏ธ Price has since pulled back and is now consolidating near 0.01162, testing key moving average support on the 1H chart.
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๐ Technical Analysis
โค MA5: 0.01144
โค MA10: 0.01129
โค MA20: 0.01173
โ๏ธ The moving averages are converging, creating a classic post-spike compression zone.
โ๏ธ Price remains just below MA20, which is acting as short-term resistance.
โ๏ธ Volume has cooled significantly from the breakout phase, suggesting an absorption period.
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โ Key Resistance Levels
โ R1: 0.01200
โ R2: 0.01372
โก Key Support Levels
โ S1: 0.01100
โ S2: 0.01084
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โข Possible Scenarios
๐ข Bullish
โค Reclaim MA20 (0.01173) with strong volume.
โค Targets: 0.01250 โ 0.01300
๐ด Bearish
โค Breakdown below 0.01100.
โค Targets: 0.01084 and lower.
โช Neutral
โค Sideways movement between 0.01100โ0.01200 while MAs flatten.
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โ Outlook
โ๏ธ A decisive move above 0.01173 would improve bullish momentum.
โ๏ธ Loss of 0.01100 shifts control back to sellers.
โ๏ธ Wait for confirmation rather than chasing volatility.
โ ๏ธ Not financial advice. Trade responsibly.
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#zora #ZoraNetwork #FirstUSCryptoDeveloperPACFormed