Zano crypto crosses the $10 mark but may struggle to reach $15.5

• ZANO crypto is up virtually 100% since October.
• The low buying and selling quantity in December and weak capital inflows since October have been a warning signal.

Zano [ZANO] crypto set a brand new all-time excessive in late August, topping the earlier one at $4.18 in October 2021.

Since then, the token has soared greater, reaching a brand new excessive of $13.68 on December 10 on the MEXC trade.

After reaching this new excessive, ZANO crypto has returned virtually 9.3%. But the bullish construction remained intact.

A sequence of Fibonacci retracement ranges have been plotted, however for the reason that momentum transfer could not have ended but, merchants must be alert.

Zano has been buying and selling since 2020. The privacy-focused blockchain ecosystem has survived the bear market and has posted sturdy positive factors in current months. On the time of writing, it nonetheless stood at a comparatively small market cap of $167.57 million.

Warning indicators of the OBV?

Supply: ZANO/USDT on TradingView

ZANO crypto has a strongly bullish construction and the day by day RSI has remained above 80 since Sunday, December 8. This confirmed intense upward momentum.

Buying and selling quantity has additionally been above common since December 5, a constructive signal.

Nonetheless, the OBV was unable to interrupt October’s highs and attain new ones. In the meantime, the worth has elevated by virtually 100%. This warranted warning from merchants. It could be sensible for traders to e book income.

The low quantity improve was a warning sign that the measure could be unsustainable. The CMF has remained beneath +0.05 more often than not since October. This was at odds with the sturdy rally.

Sensible or not, right here is ZANO’s market cap in BTC phrases

Subsequently, whereas extra income are potential, merchants and traders would do effectively to guard their income and cut back their publicity to ZANO crypto.

In the meantime, for much less risk-averse merchants, the following bullish targets are $15.51 and $18.47.

Disclaimer: The data introduced doesn’t represent monetary recommendation, funding recommendation, buying and selling recommendation or every other type of recommendation and is solely the opinion of the author