Foreign media analysis suggests that DoubleZero's token 2Z recently broke through the upward channel resistance, accompanied by a corresponding increase in trading volume, indicating strengthened buying pressure. The article argues that if the price continues to hold above $0.11, it may further test the $0.145 to $0.152 area in the short term; if support is breached, the price may fall back to around $0.095.
After several months of sorting
From the daily chart structure, 2Z weakened continuously after reaching its high point in November last year, and then entered a consolidation phase in February and March this year. After that, the price gradually formed a relatively clear upward parallel channel, which was repeatedly validated near the upper and lower boundaries of the channel.
The article states that this structure was recently broken upwards, suggesting that the previous consolidation range may be ending, and market attention is shifting to higher resistance levels. Meanwhile, increased attention on infrastructure-related crypto projects is also seen as one of the factors driving the return of funds.
$0.11 becomes a short-term dividing line
According to the text, $0.11 is the most immediate breakout and retracement level, and also the short-term dividing line between bullish and bearish sentiment. If the price remains above this level, the market may continue to attempt an upward move.
- $0.11: Pullback area after breakout
- 0.095 to 0.098 USD: Middle channel support zone
- $0.084: A lower technical support level
The initial upside target is $0.145 to $0.152.
Regarding resistance, the article identifies the $0.145 to $0.152 range as the first major supply zone. A break above this zone could see prices rise further to $0.18, or even extend to $0.22.
- $0.145 to $0.152: Historical Supply Range
- $0.18: Target near the next psychological level
- $0.22: Higher extension range
Overall, this analysis suggests that 2Z is transitioning from a consolidation phase to an expansion phase. Increased trading volume and channel breakout are the main reasons for maintaining a bullish outlook. However, whether the $0.11 level can be held remains a key point to observe regarding the continuation of the short-term trend.
