ZORAUSDT.P’s explosive 80% rally in the past week has hit resistance at $0.14, and price is now holding at the $0.11 support zone — the key level that could decide its next move. On the 4-hour chart, the RSI is flashing a hidden bullish divergence: price has made higher lows while RSI made lower lows, often a sign of consolidation within a strong trend.On-chain data from Nansen shows whales accumulated nearly 70 million ZORA during the rally, even as short-term “smart money” trimmed positions. Exchange balances have dropped consistently since early August, meaning fewer tokens are available for quick selling.
The structure on shorter timeframes still favors the bulls.
ZORAUSDT.P is trading inside an ascending broadening wedge, with the $0.148 zone as the next resistance. A clean break above this could pave the way for a retest of the all-time high — and potentially new highs if NFT minting activity remains strong.If $0.11 holds, the bullish structure stays intact; lose $0.09, and the short-term bias flips bearish. For now, buyers remain in control.
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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.