I’m watching $ZKP after the recent short liquidation of $5.1819K at $0.1939. This correction is healthy — it’s clearing out aggressive shorts and giving the market a chance to reset before the next move. Corrections like this often build a stronger base for continuation.

Trade Setup:

Entry Zone: $0.195–$0.197 — I’m watching this area for renewed selling pressure.

Target 1: $0.189 — previous support level where buyers stepped in before.

Target 2: $0.185 — a deeper reaction zone and prior swing low.

Stop Loss: $0.1985 — above the last high to avoid being stopped out by minor wicks.

This zone is strong because it aligns with previous support from earlier December and sits near the 0.5 retracement of the last rally. Every time price approached here, it reacted sharply, and I’m seeing sellers start to build strength again. If this level holds, the probability of a deeper retracement increases.

The short liquidation at $0.1939 didn’t push price significantly below the entry zone, which makes me confident that the market is consolidating before testing these targets. I’m watching price action closely and will act only if clear rejection or continuation patterns emerge.