ZORA TOKEN PRICE ANALYSIS & PREDICTION (June 4) – Zora Bounces Back Again, Can it Break Up Following 11% Gains

Few tokens on Base are gaining some traction amid the latest bleeding, including Zora , which is now posting major gains in the past 24 hours. It currently appears strong daily, but remains neutral-bearish. Zora has continued to find support above the $0.0088 level after several failed attempts to break lower in the past month. However, it managed to bounce back this week and rose with a major gain in the last 24 hours. Looking strong on the day, the price is now approaching $0.012 due to a steady volume inflow today. As shown on the daily price chart, the price level looks close to last week’s high, where a sudden rejection occurred. Breaking this high of $0.0139 could trigger a surge capable of activating a bullish move. Although it may face more hurdles on the way up before considering a major price movement in the near term. But looking at the price actions, Zora’s market structure is still considered neutral-bearish. Failure to break through that mentioned high could result in another drop in the next few hours, with a potential break below the holding support level. This may cause a catastrophic loss if such a breakdown occurs. As it currently stands, it is too early to consider a bullish move. Zora’s Key Levels To Watch Source: Tradingview Technically, the mentioned last week’s high is now considered as a key resistance level on the daily chart. A clear push above it could rally the price straight to $0.02 and $0.03. The $0.0414 level is a key high to watch for a major breakout. Rolling back to the $0.0088 support level could trigger a breakdown to $0.006. The $0.004 level is the next stopover to watch for more dips. Key Resistance Levels: $0.0139, $0.02, $0.03 Key Support Levels: $0.0088, $0.006, $0.004 Spot Price: $0.011 Trend: Neutral-Bearish Volatility: Moderate Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !

Source: NullTx