π ZEN has recently displayed notable market dynamics, particularly as it rests on a support area, which is crucial for sustaining its upward momentum. A bounce from this support zone is essential for ZEN to continue its upward trajectory.
π Should ZEN successfully bounce from the support, it has the probability to resume its upward movement, aiming to break through the local resistance at $15.7.
π However, if ZEN fails to find support at the current level and breaks below the support area, it will signify weakness and could lead to further downward movement. In such a scenario, the next potential stop for ZEN would be at the lower support area around $9.6.
π Therefore, it is imperative for ZEN to bounce from the support area and reclaim levels above it to maintain its bullish momentum. Failure to do so could result in a continuation of the downward movement.