Thoughts on ZAPP's downside potential given current range
Watching $ZAPP's behavior post-dip, it seems the 0.14 support has held for now, but the bounce has been anemic, unable to clear even 0.17 meaningfully. Given the significant selling pressure yesterday and the lack of conviction on bounces, I'd put the odds of retesting 0.14, and potentially breaking it to test 0.12 or even 0.10 by month-end, at around 60%. The current volume profile doesn't suggest strong accumulation, rather exhaustion on the upside.
It feels like a distribution pattern in the making, or at least a prolonged consolidation that could easily break lower if broader crypto sentiment dips again. There isn't much stopping power visible below 0.14 on the daily chart, which makes further downside look like the path of least resistance.
I agree the bounce has been weak, but I'm not entirely convinced ZAPP breaks 0.14 without a major market downturn. Volume isn't terrible on these small bounces, just not enough to sustain a move past 0.17.