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$ZORA
ZORA is giving a short-term recovery signal after bottoming around 0.01084 USDT. A strong increase with a sudden trading volume shows that buying force is returning and the bulls are trying to gain control.
Positive points:
● The price has surpassed MA5, MA10 and MA60.
● The sharp increase in volume confirms the real demand force.
● The short-term downtrend shows signs of weakness after a series of accumulated candles around the bottom.
Reference purchase area:
● Buy when the price is kept above 0.01150 – 0.01160.
● Can wait for the retest rate of the 0.01130 - 0.01140 area to have a better risk/return ratio.
Goal:
● TP1: 0.01195 - 0.01210
● TP2: 0.01250
● TP3: 0.01300 – 0.01370 if the cash flow continues to be maintained.
Cut loss:
● Below 0.01100 USDT or below the nearest bottom of 0.01084 USDT.
Note: The big trend has not been completely reversed because the price is still below MA20 and MA30. The current signal is suitable for short-term trading following the recovery momentum, it is necessary to monitor the volume in the next candles to confirm the breakout.
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