🔍 Short Technical Reading
Current Price: 0.003143
Strong decline (-11%) with a sharp red daily candle.
A clear break occurred for all averages (EMA & MA) at once → Strong weakness signal.
Bollinger Bands: The price broke the lower limit (LB ≈ 0.0077) → Oversold.
RSI:
RSI6 ≈ 5.9 (Very strong oversold ⚠️)
RSI12 ≈ 21 (Still negative)
KDJ: J is strongly negative → Continuous selling pressure but close to a technical rebound.
Volume: Notable selling volume → Distribution/Panic and not accumulation currently.
🧭 Potential Scenarios
🔴 Negative Scenario (Currently the closest)
As long as the price is below 0.007 – 0.008
→ The overall trend is down
Any rise without volume = New distribution
🟢 Rebound Scenario (Technical only)
Due to extreme overselling, a temporary rebound is possible
Rebound Areas:
0.0045 – 0.0055
⚠️ This rebound is not a trend reversal unless conditions are met.
🔑 What to watch for a true reversal?
✔️ Daily close above 0.008
✔️ Retracement of EMA20 at least
✔️ Real buying volume
✔️ RSI returns above 30 consistently
🎯 Summary
Current Situation: Weakness + Market Panic
No safe entry now ❌
Speculators may only benefit from a calculated quick rebound
Investors are waiting for a confirmation signal and not just a green candle
$ZK $JST $XRP
