ZRX Low Volatility Results in a Steady Fall in Price
June 21, 2021
#Market Expectation#Price Chart#Technical Analysis#ZRX#ZRXUSD
ZRX Analysis – 0x Low Volatility Ensures That the Market Continues to Dip
Low volatility on ZRX in the past trading days comes after the market broke beyond the key level at 1.2300 in mid-May. The market then reached a low at 0.6450 on the 23rd of May 2021 before it reversed. ZRX attempted to rally, but it was stopped twice at 1.2300, on the 27th of May 2021 and on the 3rd of June 2021 respectively. The previous support now plays a role of resistance in the market. It has now defended the zone twice upon an attempt to break out.
Little activity is seen going in the market and this is seen with the medium and small-sized candles arranged orderly on the daily chart. The market is currently experiencing bearishness. The daily candles line up steadily towards the support zone below at 0. 6450. The downslope on the ATR (Average True Range) shows that the activity in the market is currently low. The daily candles currently rest on the lower border of the Bollinger.
Key Levels on ZRXUSD
Resistance levels: $1.2300, $1.5500, $2.1550
Support levels: $0.1485, $0.355, $0.6450
What to Expect From ZRX Low Volatility
ZRX is likely seeking support to aim for a higher price, and It is moving to reach the previous month’s low at 0.6450. The four-hour chart shows price gyration through the descending channel.
On the four-hour chart, the market has taken off from the lower borders of the Bollinger bands towards the higher border of the descending channel. This higher border may as a resistance to send price towards the support at 0.6450 support level.
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