Double Zero slides 12% as momentum fades – Is the worst over for 2Z?
Double Zero (2Z) has declined over 12% amid a broader market downturn and significant long liquidations exceeding $719,000. Technical indicators remain bearish, with the MACD showing a death cross and the RSI trending downward around 46, suggesting potential further losses. A key demand zone lies between $0.114 and $0.118, which could serve as support. A rebound from this level toward $0.15 would represent a 28% gain, but current spot buying of around $874,400 appears insufficient to drive a strong recovery. Despite the bearish signals, derivatives traders maintain a slight long bias, with a Long-to-Short Ratio of 1.043 and a positive funding rate, indicating lingering bullish sentiment.
ambcrypto01/26 20:02