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$ZEN is quietly doing something here that most people are going to miss.
Looking at the daily chart, we’ve been bleeding for a while, but the price action is starting to flatten out around this 5.397 area. It’s basically hugging the bottom of this long downtrend. We found some temporary floors at 4.939 recently, and now it’s just ranging in a very tight, boring zone.
The volume is pretty thin, which usually means the sellers are getting exhausted but the buyers aren't convinced yet. If we can actually get a bit of momentum and break above the 5.86 resistance, we might finally see a relief rally. Until then, it’s just a game of waiting to see if this support holds or if we see one last flush.
I’m keeping a close eye on the 24h low of 5.346. If it dips below that with high volume, things could get messy fast.
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