AZERO’s Technical Analysis Hints At Caution With Short-term Warning Signs

Key Points:

• A provision of technical analysis of AZERO highlights key levels on the chart, including an all-time high and a big support zone.
• It is given a long-term outlook for this token, with an accumulation phase in 2023, a mark-up phase in 2024, and a blow-off top and distribution in 2025.

Technical analysis of AZERO shows key levels at $3.11, $1.58, and $1.05 with short-term warning signs. Long-term outlook: accumulation in 2023, markup in 2024, blow-off top and distribution in 2025, as per ParabolicPump on Twitter.

In the thread, he delved into the technical analysis of AZERO, a coin that has garnered much attention lately. First, let’s examine some key levels on the AZERO chart: the all-time high of $3.11, the $1.58 in August, and the significant support zone at $1.05.

After breaking above $1.58 in mid-February, AZERO appeared to be short-term bullish. However, shortly after pumping, some short-term warning signs emerged, including bearish divergence on RSI and falling volume with rising prices. Price then began to roll over.

Zooming out and looking at the bigger picture, it became apparent that if it lost the $1.58 level, the move above it was likely just a bulltrap. This is exactly what happened, and it continued to dump.

Despite this, there is potential for AZERO to change course if it breaks out above the downtrend line and hold above it. It’s important to note that everyone is eyeing the massive support built up at the $1.05 level, but this level may also be front-run.

Moving onto the long-term outlook for AZERO, he expected an accumulation phase in 2023, a mark-up phase in 2024, and a blow-off top and distribution phase in 2025. This is a general outlook, and it’s important to keep in mind that technical analysis does not always play out as expected. However, it can provide traders with an edge on when to buy, sell, or be patient.

In conclusion, AZERO has seen some short-term bearish signs, but it’s important to keep an eye on potential breakout opportunities. Additionally, the long-term outlook for AZERO suggests that it may have significant potential for growth in the coming years.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Thana

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