Accumulation Near Lower Support! 📈
K is currently in a consolidation phase on the 1-hour chart after correcting from its local high of $0.01220. The price is finding steady support near the lower Bollinger Band ($0.01142) and is attempting to push back toward the middle band ($0.01170).
The 6-period RSI is sitting at 38.18, showing that the asset is approaching the oversold territory. This indicates that the selling pressure is cooling down, making it a low-risk accumulation zone for patient Spot traders looking for a solid bounce.
🎯 Spot Trading Setup:
Entry Zone: $0.01145 - $0.01160 (Current Market Price is an ideal entry spot)
Take Profit 1 (TP1): $0.01200 (Near Upper Bollinger Band resistance)
Take Profit 2 (TP2): $0.01250 (Next psychological breakout level)
Stop Loss (SL): $0.01110 (Safely below the recent local support floor)
⚠️ Reminder: This is strictly for SPOT trading. No leverage risk, no liquidation worries. Accumulate and hold!
Will $ZK break above the $0.01170 mid-band resistance on the next candle, or do you expect more sideways movement? Let me know below! 👇