ZORA is showing signs of bearish momentum, as the Balance of Power (BoP) indicator has flipped negative.
This shift indicates a clear drop in buying pressure, signaling that bulls are beginning to lose their grip on the market. At press time, the momentum indicator stands at -0.74, reinforcing the bearish sentiment.
With sellers gradually taking control, the path of least resistance appears to be to the downside. Traders should exercise caution and watch for further confirmation of a sustained downtrend.
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This shift indicates a clear drop in buying pressure, signaling that bulls are beginning to lose their grip on the market. At press time, the momentum indicator stands at -0.74, reinforcing the bearish sentiment.
With sellers gradually taking control, the path of least resistance appears to be to the downside. Traders should exercise caution and watch for further confirmation of a sustained downtrend.
Ask ChatGPT
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Truly Unbiased Cryptocurrency News beincrypto.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.