$ZEN — Overextended Rally Showing Exhaustion, Pullback Likely ⚠️
Short $ZEN
• Entry: 6.02 – 6.10
• Stop Loss: 6.40
Targets:
• TP1: 5.80
• TP2: 5.70
• TP3: 5.60
$ZEN is showing signs of short-term exhaustion after an extended upward move, with price approaching a key resistance zone and momentum indicators flashing overbought conditions. The recent rally appears stretched, increasing the probability of profit-taking and a corrective pullback.
The RSI overheating above 70 reflects weakening upside efficiency, while price struggles to maintain strength near resistance. If ZEN loses the 5.85 support level, selling pressure could accelerate quickly toward lower liquidity zones at 5.70 and 5.60.
The bearish bias remains valid as long as price stays below the 6.40 invalidation level. This setup offers a favorable risk-to-reward opportunity for a corrective move, especially if rejection confirms at resistance.
Trade ZEN here 👇
