ZKP ANJLOK -16%! HAS IT BEEN OVERSOLD, READY TO REBOUND? 📉
ANALYSIS:
ZKP/USDT on the 1-hour timeframe is experiencing strong bearish pressure, with the price around 0.04713 after dropping -16.42%. After previously marking a peak at 0.06237, the price formed a series of lower highs and lower lows, indicating that the correction phase is still ongoing.
Technically, the price is below MA7 0.04760, MA25 0.05189, and MA99 0.04770. The Supertrend around 0.05328 is also still above the price, meaning the sellers have not lost control yet. MACD remains bearish, with DIF -0.00166 below DEA -0.00103 and a negative histogram.
However, RSI(6) has already fallen to 29.35, entering the oversold area. The price is also approaching the Lower Bollinger Band at 0.04542, so the chance of a technical rebound is starting to open up if support can hold.
The main support is at 0.0460–0.0454, then around 0.0422. The nearest resistance is at 0.048–0.049, followed by 0.051–0.0533.
In conclusion, the ZKP trend is still bearish, but oversold conditions make a short-term rebound increasingly possible. Reclaiming 0.049 would be an early sign of recovery, while a breakout of 0.0533 would provide stronger confirmation of a reversal. If 0.0454 breaks, downward pressure could continue.
$ZKP
#Write2Earn #trading #BinanceSquare #BinanceSquareFamily #TechnicalAnalysis
ANALYSIS:
ZKP/USDT on the 1-hour timeframe is experiencing strong bearish pressure, with the price around 0.04713 after dropping -16.42%. After previously marking a peak at 0.06237, the price formed a series of lower highs and lower lows, indicating that the correction phase is still ongoing.
Technically, the price is below MA7 0.04760, MA25 0.05189, and MA99 0.04770. The Supertrend around 0.05328 is also still above the price, meaning the sellers have not lost control yet. MACD remains bearish, with DIF -0.00166 below DEA -0.00103 and a negative histogram.
However, RSI(6) has already fallen to 29.35, entering the oversold area. The price is also approaching the Lower Bollinger Band at 0.04542, so the chance of a technical rebound is starting to open up if support can hold.
The main support is at 0.0460–0.0454, then around 0.0422. The nearest resistance is at 0.048–0.049, followed by 0.051–0.0533.
In conclusion, the ZKP trend is still bearish, but oversold conditions make a short-term rebound increasingly possible. Reclaiming 0.049 would be an early sign of recovery, while a breakout of 0.0533 would provide stronger confirmation of a reversal. If 0.0454 breaks, downward pressure could continue.
$ZKP
#Write2Earn #trading #BinanceSquare #BinanceSquareFamily #TechnicalAnalysis
