ZEREBRO gains 68% in a month: Is $1 within reach?
The post ZEREBRO gains 68% in a month: Is $1 within reach? appeared on BitcoinEthereumNews.com.
The rally followed the asset breaking out of a consolidation channel, where it had traded for several days. Currently, a strong support level on the chart suggests ZEREBRO could climb even higher, potentially reaching $0.80 or more. ZEREBRO has shown an impressive upward trajectory, gaining 67.92% over the past month and an additional 35.90% in the last 24 hours. As of now, its market capitalization stands at $541.6 million. While these gains might suggest ZEREBRO is nearing its peak and could retrace, AMBCrypto’s analysis indicates that the asset remains bullish, with room for further upside. Is ZEREBRO ready for further gains? ZEREBRO’s recent rally stems from the asset breaking out of a major consolidation channel that persisted for weeks starting in November, propelling it higher on the charts. Typically, this breakout signals a push toward a peak of $0.64, but the asset is currently slowing down at $0.55. Analysis suggests two possible paths for ZEREBRO: reaching the $0.64 peak or climbing higher to the $0.80–$1 range. In the latter scenario, illustrated in the accompanying chart, ZEREBRO would first need to retrace to a support level at $0.497. A rebound from this level could then push the asset toward $1, potentially boosting its market capitalization beyond $1 billion. Source: TradingView To assess the likelihood of sustained bullish momentum, AMBCrypto analyzed key technical indicators, which confirmed that the bulls remain active. Rising accumulation could lead ZEREBRO higher At the time of writing, ZEREBRO’s Accumulation/Distribution (A/D) indicator showed an accumulation phase, confirmed by an upward-trending line. The A/D indicator combines price and volume to gauge market direction. When it trends upward alongside price movement, as seen here, it suggests high demand for the asset. Source: TradingView To confirm the directional bias, the Average Directional Index (ADX) was analyzed. The ADX measures the strength…
Filed under: News - @ January 1, 2025 2:15 am