ZENUSDT → Exiting a bearish trend. Growth potential by 15.00

27 Jul 2023

ZENUSDT is forming a prolonged bearish wedge. Numerous resistance retests are inconclusive except for the last one. Against the backdrop of falling bitcoin, ZEN is showing strength.

The price after testing the bearish trend support consolidates and stops under the resistance at 9.66, forming an ascending triangle. Over the course of several weeks, price consolidates and continues to push up against resistance.
At the moment of volume surge, the price moves from the accumulation phase to the phase of realizing the potential. A breakout of resistance and a bullish impulse is formed.
A retest of the previously broken boundary or consolidation above 9.66 may be formed soon, which may give an opportunity to enter the market at a better price. It is also worth noting that the price is breaking the moving averages and this may indicate a trend change.

Support levels: 9.66, the previously broken trend boundary
Resistance levels: 11.4, 15.12
I expect the growth to continue after the breakout of 9.66. Medium-term outlook - strengthening to 15.12.

Regards R. Linda!