CryptoSignals News
Join our Telegram

0x (ZRXUSD) Is Struggling to Make an Impression at $1.200

Estimated Reading Time: 3 minutes

Article Rating:
Based on 1 vote
Login to rate this article.

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more

0x (ZRXUSD) Is Struggling to Make an Impression at $1.200

Market Analysis – The $1.200 Resistance Level Keeps ZRXUSD Struggling to Break Above It

ZRXUSD is struggling after reaching above $1.100. The market’s impressive upward run has been repressed after ZRX is found struggling to get the better of the $1.200 key level. The first sign of a potential impediment came when the coin reached $1.100. Price had to retrace for a retest all the way back to $0.920 which pushed it past the resistance to reach $1.200 when bulls are now struggling to make further upward movement.


ZRXUSD Key Levels

Resistance Levels: $1.320, $1.200, $1.100
Support Levels: $1.020, $0.920, $0.850
ZRXUSD is struggling
The $1.200 is a prominent price level for ZRXUSD. It was responsible for impeding the ascent of price after the May 19 fall. It eventually aided the market’s decline to $0.920, another key level that first kept the market up, then confined it below. Price spent 57 days below $0.920 as a resistance before breaking above it on the 8th of August 2021. It was from this level, that price ascended to $1.100.

Having broken free of the $1.100 key level with a retest and break, the coin is now struggling to get any higher. At the time of writing, price has fallen again below $1. Despite the struggles of the coin, the Stochastic Oscillator depicts the market as still in the buying half of the chart and there is now a gradual decline in price and we can expect more of the same. The Moving Average period 12 has now moved above the daily candles to show market decline.

ZRXUSD is struggling
Market Prospects

On the 4-hour chart, the coin is now tapering down a descending triangle. The breakout is most likely to the down side. The MA period 12 on the 4-hour chart is in accordance with that of the daily chart, it remains predominantly above the candles to drive it downwards. On the Stochastic Oscillator chart, price has dropped abruptly into the oversold region during the past 24hours.

We can expect to see more downside movement from the coin which is likely to touch down at $0.920 before further market reactions.

You can purchase crypto coins here: Buy Tokens

Note: Cryptosignal.org is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

Recent News

January 17, 2023

Litecoin (LTC/USD) Price Valuation Hits Resistances at $90

Litecoin Price Prediction – January 17It has been that the LTC/USD market valuation hits resistances around the trading axis of $90 after a long-strong-holding move in rallies. The transaction outlook has led to high and low points between $86.614250 and $84.665493. As this article is being written...
Read More
December 15, 2021

Ripple Hovers Above $0.76 as XRP Reaches an Oversold Region

Ripple (XRP) Long-Term Analysis: BearishRipple’s (XRP) price has been consolidating above the $0.76 support level since December 4 price breakdown. Ripple has been trading between $0.76 and $0.93 price Levels. The $0.76 support is the previous low of August 8. In August, the market resumed an upwar...
Read More

Join Our Free Telegram Group

We send 3 VIP signals a week in our free Telegram group, each signal comes with a full technical analysis on why we are taking the trade and how to place it through your broker.

Get a taste of what the VIP group is like by joining now for FREE!

arrow Join our free telegram