🔥 $ZKP Bullish Retracement: Dip Buying Opportunity or Just a Trap?
The token just had a solid pump followed by a pullback to around 0.159–0.161 right now. On the 4H chart, volume has been drying up during this correction (down from 541M to about 117M), which tells me the selling pressure isn’t super strong — feels more like a “weak conviction” pullback. That massive volume spike (557M) during the initial rally looks like real buying interest, not just noise.
The most interesting part is the divergence between spot and futures:
- Futures: Outflow of -1.7M in the last 1H (retail traders panic-closing longs).
- Spot: Steady inflows — +2.5M over 6H and +2.09M over 24H.
Looks like smart money is quietly accumulating spot while retail is dumping. Classic setup for a bounce after the dip.
*My take $ZKP Cautiously bullish — still leaning toward the bigger uptrend.
- Entry now: You could dip in with a small long position here (0.1590–0.1610), but keep a tight stop around 0.1535 .
- Better entry: Wait for a deeper pullback to 0.1480–0.1520 (near MA20 + previous support) for much nicer risk/reward.
Targets:
- Primary: R1 resistance at ~0.1934
- Secondary: R2 resistance at ~0.2211
*Risks: Funding rate $ZKP is deeply negative, so expect some wild whipsaw action around here. If we break below S1 at 0.1286, the bullish case is dead — cut losses immediately. Holding ZKP or waiting for a bigger dip?
#ZKP #ZKPUSDT #zkPass