Zano (ZANO) has experienced a significant price surge, climbing 73% in a week after testing its long-term demand zone between $5.5 and $6.0. This bullish reaction, while not altering the overall bearish outlook, provided swing buyers with a lucrative opportunity. The altcoin's price movement was supported by balanced buying and selling pressure, as indicated by the On-Balance Volume (OBV) at multi-month lows. Despite the recent rally, ZANO's short-term outlook suggests potential overextension, with indicators like the Money Flow Index (MFI) in overbought territory. Traders are advised to watch for a price dip into the $8.1-$9.2 range, which could serve as a support level and a potential buying opportunity. A drop below $8.1 would not invalidate the long-term range but could offer a strategic entry point for investors.
ZANO Surges 73% After Testing Long-Term Demand Zone
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