Bearish Breakout: ZEN’s Path to $26 Revealed

ZEN has broken below both the daily open (dOpen) and weekly open (wOpen), signaling increased bearish momentum. The previous support levels now act as a Support/Resistance Zone, and bullish recovery requires reclaiming both dOpen and wOpen with significant volume. However, the current setup suggests further downside toward the $26–$25 range, which aligns with multiple confluences and the target from the Head & Shoulders (H&S) pattern.

Confluence for $26–$25 Support Zone:

1. Fibonacci Retracement (0.618): The key retracement level provides a strong support area.
   
2. $25 Key Level: A psychological and technical key level with historical significance.
   
3. Point of Control (POC): The POC from the previous trading range aligns perfectly with this zone.
   
4. Trend-Based Fibonacci Extension (1.272): The projected extension supports the target.
   
5. Fibonacci Speed Fan (0.777): Adds further confluence for this price level.
   
6. H&S Target: The projected target of the confirmed Head & Shoulders pattern coincides with this zone.
   

Outlook and Strategy:

• Short-Term Bias: The bearish trend remains dominant unless bulls manage to reclaim dOpen and wOpen with strong volume.
  

• Target Area: The $26–$25 range serves as the most probable area for a bounce or reversal due to multiple technical confluences.
  

• Next Steps: If price reaches the support zone, look for a high-probability long setup with confirmation through increased buying volume, bullish candlestick patterns, and alignment with key indicators.