$ZRO 24-hour low, current price 1.813, previous low 1.8218.
After a new low, price generally moves in one of three ways:
① It rebounds to the previous low and gets pushed back down: the decline continues
② It moves sideways near the previous low: consolidation while waiting for direction
③ It quickly recovers the previous low and holds above it: a false breakdown
Price is currently below the previous low; watch whether it follows ① or ②.
After a new low, price generally moves in one of three ways:
① It rebounds to the previous low and gets pushed back down: the decline continues
② It moves sideways near the previous low: consolidation while waiting for direction
③ It quickly recovers the previous low and holds above it: a false breakdown
Price is currently below the previous low; watch whether it follows ① or ②.