Direct & Technical (Focuses on the setup)

🚨 ZAMA/USDT 1H Analysis: Textbook Resistance Rejection! 📉

Taking a look at the 1H chart for $ZAMA, we just witnessed a beautiful technical play.

Here is the breakdown of the current Short setup:

The Setup: Price was testing a major ascending resistance line (blue). We saw a classic fakeout/liquidity grab above the line, followed by an aggressive rejection.

The Trade: Short entry locked in around the 0.0242 level after the rejection was confirmed.

Current Status: Deep in the green! Price has dropped over 12% and is currently trading around 0.0221.

The Target: Looking at the demand block (purple box) around the 0.0194 - 0.0200 level for full take profit.

The momentum is heavily bearish right now. If you are in this short, it might be time to move that Stop Loss to breakeven or trail your profits!

What are your thoughts on ZAMA here? Will it bounce at the support box or break lower? Let me know below! 👇

$ZAMA

ZAMA
ZAMAUSDT
0.0232
-5.61%

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