$ZRO hits a 24-hour high, with the current price at 2.162 and the previous high at 2.1453.
After a new high, there are three common scenarios:
① Pull back to the previous high, hold, then move up another step: the healthiest scenario
② Consolidate around the previous high: digesting gains and waiting for direction
③ Fall straight back below the previous high and fail to reclaim it: a false breakout
For now, it’s still above the previous high, so let’s first see whether it falls into ① or ②.
After a new high, there are three common scenarios:
① Pull back to the previous high, hold, then move up another step: the healthiest scenario
② Consolidate around the previous high: digesting gains and waiting for direction
③ Fall straight back below the previous high and fail to reclaim it: a false breakout
For now, it’s still above the previous high, so let’s first see whether it falls into ① or ②.