0x (ZRXUSD) Traders Still Continue to Play Out Their Silence
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ZRXUSD Analysis: The traders remain silent as the ZRXUSD price is not ready for outburst
ZRXUSD traders continue to play out their silence as the market’s tendency shows no room for outbursts. Both prospects have been making all the necessary attempts to change the radar of price movement from price consolidation. Despite their best efforts, both prospects failed to switch price orders from riding in both the bull and bear directions. However, the fact that the crypto market is compressing currently does mean that the ZRXUSD price will continue to remain in consolidation. Traders should still anticipate price progression in the coming days on the daily chart.
ZRXUSD Trade Levels
Resistance Levels: $1.125000, $0.783000
Support Levels: $0.386000, $0.252000
The middle of June 2023 shows us the start of price contraction between the key zones of $0.386000 and $0.252000. The buyers’ attempt to shift price focus failed, and we got to have the ZRXUSD market continue in a ranging market. The bearish season had survived a long haul before its relapse. As we get closer, a buy end at $1.125000 shifts buy traders to sellers, and selling pulls away to the $0.38600 key zone. This key zone denoted selling power because prices consolidated for some time at this level.
With the ZRXUSD price dropping down to the $0.252000 key zone, there has not been any solid movement ever since. The sell traders are now placing orders back to the $0.252000 key zone as the MFI (Money Flow Index) shows selling activity is still in progress. The Stochastic at its end appears sold, and this tells us that buyers will soon pick up the moment to continue ranging on the daily chart.
Market Expectations
We expect sellers to exhaust their selling power and buyers to take up the challenge as the new week unfolds. With the ZRXUSD still trading quietly, there will be more room for consolidation on the charts. The sellers are compressing price activity downward in the hope of a buying tendency returning to the $0.38600 key zone.
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