The price has already reclaimed the $0.1456 level, so it's worth watching for a retest. If the retest holds, the price could move higher. We should wait a bit LONGER for a clean BUY signal so we can catch a safer LONG entry.
If the price can close firmly above $0.0122, we should see bullish momentum pick up. A clean reclaim of this level will likely push the price towards the next targets at $0.0128 and $0.0130.
· Zone: 0.011800 - 0.011900 · Reason: This area is a strong historical support level, as seen on the chart where the price has previously found buyers. Entering within this zone provides a better risk-to-reward ratio.
· SL: 0.011600 or just below the key support zone. · Reason: A break below the strong support level of 0.011800 would indicate that the buying pressure has failed and a further drop is likely.
I think it's a good area to look for a short. I'm expecting the price to drop to around $630.If you agree with this idea, you can take short-but keep in mind that the risk is high, so use only a small amount of capital.
Based on my knowledge and research, this is only my personal market analysis. It may not be entirely accurate, so please Do Your Own Research before making any trading decisions. Always study the market first before Buying or Selling. $ZEC #zec #ZECUSDT #trading #CryptoMarketAnalysis #dyor
Recent price action is showing weakening momentum, and sellers continue to maintain control over the short-term trend. If this pressure remains, ADA may potentially move down below the 0.490688 level, which is currently acting as a key support zone.