ZORA — Parabolic Rally Nearing Exhaustion

3 gün önce

ZORA has been on an explosive run, pumping +1239% in just 20 days. But after such a vertical move, the question is:

Is this rally nearing exhaustion?

Let’s dive into the technicals 👇

🧩 Elliott Wave Structure

Looking at price action through the lens of Elliott Wave Theory, ZORA appears to be completing its 5th wave:

➡️ Wave 3–4 zone: Held around the $0.05 trading range
➡️ Wave 5: Now pushing into the $0.097–$0.103 zone

This area aligns with:

• The 1.618–2.0 Fib extension pocket — a typical exhaustion zone for wave 5s
  
• The $0.10 psychological level
  

🔴 Short Trade Setup

This zone between $0.097–$0.103 is the ideal reversal area to consider shorting, with clearly defined targets and confluence:

• Entry: $0.097 – $0.103
  
• Stop-Loss: Above the 2.0 Fib Extension
  
• TP1: Around $0.08
  
• TP2: Around $0.064
  

Confluence: TP1

• Daily Open (dOpen)
  
• 0.786 Fib of the local move
  
• 0.382 Fib of the 5-wave structure
  

TP2 (Lower Target):

• 0.618 Fib retracement of the 5-wave move at $0.064
  

Risk-to-Reward:

• TP1 gives an R:R of 1:8
  
• TP2 offers potential 1:13+
  

Watch for signs of weakness.
_________________________________

💬 If you found this helpful, drop a like and comment!
Want breakdowns of other charts? Leave your requests below.

evvelsi gün

İşlem kapandı: hedefe ulaştı

🚨 ZORA Update

🔴 Short trade target at $0.8 hit perfectly, retesting the pdOpen =) clean move off the top!

We also saw a sweep of the local low, with a nice scalp long opportunity after the SFP.

Now watching for continuation or signs of another leg down.