$ZRO is pressing its 7-day high with less fuel than the chart suggests.
The price side is loud. ZRO is at 1.85, up 21.4% on the day and 28.2% on the week, only 1.9% under the 7-day high of 1.885.
The volume side is quiet. 24h turnover is about 22.6M USDT, just 1.33 times its 7-day average. For a 21% day, that is a small step up in participation.
And momentum is already stretched. Hourly RSI is 73.1, above the usual overbought line. $BTC moved only 0.33%, so there is no market wave to carry ZRO through resistance either.
Breakouts on weak volume usually fail. That is the rule I lean on here.
My view: skeptical of this push. No trade yet.
I change my mind if price holds above 1.885 with volume at 2x its average or more.
A drop back below about 1.52, where the day started, would confirm the move was thin and is unwinding.
Next I watch the first test of 1.885. A rejection there on flat volume is the setup I expect.
#ZRO #Overbought
The price side is loud. ZRO is at 1.85, up 21.4% on the day and 28.2% on the week, only 1.9% under the 7-day high of 1.885.
The volume side is quiet. 24h turnover is about 22.6M USDT, just 1.33 times its 7-day average. For a 21% day, that is a small step up in participation.
And momentum is already stretched. Hourly RSI is 73.1, above the usual overbought line. $BTC moved only 0.33%, so there is no market wave to carry ZRO through resistance either.
Breakouts on weak volume usually fail. That is the rule I lean on here.
My view: skeptical of this push. No trade yet.
I change my mind if price holds above 1.885 with volume at 2x its average or more.
A drop back below about 1.52, where the day started, would confirm the move was thin and is unwinding.
Next I watch the first test of 1.885. A rejection there on flat volume is the setup I expect.
#ZRO #Overbought
