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$ZEN (4H) — Support Retest Short
Bias: Bearish
Entry Zone: $5.95 - $6.08
Targets:
TP1: $5.75
TP2: $5.50
TP3: $5.20
Stop Loss: $6.35
Why this Setup:
ZEN continues to trade inside a clean higher timeframe downtrend after failing to sustain any meaningful recovery from the $7.80 peak region. The chart has been consistently printing lower highs and heavy sell reactions, which keeps the broader structure firmly bearish.
What stands out now is the weak consolidation near support. Instead of aggressive buyer recovery, price is barely holding above the $5.90 zone while momentum continues fading. That type of behavior often signals seller dominance rather than accumulation.
The recent bounce attempts also lack conviction — every push higher is getting absorbed quickly, suggesting liquidity is still flowing out of the market.
If ZEN loses the current base cleanly, the next downside leg could accelerate fast as the market enters a low-support area beneath the range.