Bears Are Active on the 0X (ZRXUSD) Coin
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ZRXUSD Analysis – Bears Are Active in the 0x Market
Bears are active in the ZRXUSD market. This is evident as the market’s ranging movement for over a month is a drop below the $0.450 support border of the consolidation. The consolidation, which began in mid-May, resulted from active bearish activities above $0.680. Bears are still active in the market, hoping to drive the coin down to $0.150.
ZRXUSD Key Levels
Resistance Levels: $0.450, $0.680
Support Levels: $0.150, $0.300
The bears are finally winning the ding-ding battle, which has permeated the market since the beginning of the year. The bears had the market from the inception of the year, plunging the coin below the $0.680 price level. The market went into consolidation from where the bulls gained power and pushed the market back above $0.680 using a double bottom pattern.
At the top of the $0.680 price level the second time, many twists and turns happened but bears ultimately regained power, and it has been all south since then. The price plunged, bypassing the previous consolidation zone and going below $0.450. Another ranging movement began with $0.300 as the support. This only lasts a month before bears become active again to plunge the price below the $0.300 support.
Market Expectations
In the 4-hour time frame, the market activities are highlighted. The MACD (Moving Average Convergence Divergence) has plunged below the zero line to show the strength of the bears in the market. However, despite the activeness of the sellers, the general market momentum is also reducing. This may give the buyers some leverage in the future, but at the moment, the market is aiming for the $0.150 support level.
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