$ZRO : The bounce is exhausted. Short on pressure resumption.
The buyer attempted to recover but could not hold at the reached levels. Every upward movement encounters dense supply, and pullbacks occur faster and with less resistance — classic anatomy of the initiative transition to the seller.
On the hourly chart, a sequence of lower highs is forming. The price has lost EMA(7) and is testing EMA(25) from top to bottom. RSI(6) could not hold above 55 and is reversing, forming a descending channel.
The zone 2.02 – 2.14 coincides with the Fibonacci level 0.382–0.5 from the last wave of growth and the previous area of consolidation, which now serves as technical resistance.
Entry: 2.02 – 2.14
Targets:
TP1: 1.90
TP2: 1.76
TP3: 1.62
Stop-loss: 2.25
Breaking the level 2.25 will break the bearish structure and indicate the return of the buyer. Until then, every touch of the resistance zone is an opportunity for a short.
When growth is not defended, the market seeks liquidity below.
What is more convincing for you when entering a short — the loss of the moving average or the lack of volume on bounces?
