📉 $ZKP /USDT: Bearish Reversal Alert! 🚨
$ZKP is currently showing signs of exhaustion after a sharp vertical move. On the lower timeframes, we are seeing a "blow-off top" structure near the resistance zone, suggesting that the bulls are running out of steam. Expecting a healthy correction/pullback from this overextended level.
⚡ Trading Setup:
Direction: SHORT (Bearish) 🔴
Entry Zone: Market Price (Approx. $0.1150 - 0.1190)
Target 1: 0.09976 (Immediate Support) 🎯
Target 2: 0.08270 (Major Liquidity Gap) 🎯
Stop Loss: 0.12650 (Above local swing high) 🛡️
🔍 Technical Insights:
Overextended RSI: The RSI has tapped the overbought territory, signaling a cooling-off period is due.
Volume Fade: Trading volume is starting to decline on the 1H/4H charts while price hits resistance—a classic bearish divergence.
Market Sentiment: With the broader market seeing mixed signals today, high-flyers like $ZKP are the first to face profit-taking.
Risk Management: Use appropriate leverage (3x-5x recommended) and never risk more than 1-2% of your capital on a single trade.
#zkPass #CryptoTrading #TechnicalAnalysis #BinanceSquareTalks #BearishSignal
Disclaimer: This is not financial advice. Crypto markets are highly volatile. Do your own research (DYOR) before entering any trade.
