ZRXUSD Continues a Bullish Trend After a Fall
October 12, 2021
#Crypto#Crypto Analysis#CRYPTOCURRENCY#Daily Chart#Market Expectation#Price Action#ZRXUSD
ZRXUSD Analysis – Price Continues Bullish Trend
ZRXUSD continues a bullish trend after a quick drop. The coin has been trending up for a long time, thereby breaking multiple key levels. ZRXUSD gathered momentum after a reversal at the $0.800 critical level. Price then assumed bullish momentum as the coin continues to rally upward. The market thereafter rallied up to the $1.000 critical level before a retest. However, the retest came to play at this level. The market then moved up to $1.300.
ZRXUSD Critical Levels:
Resistance key Levels: $1.300, $1.130
Support key Levels: $0.800, $1.000
A reversal, however, occurred at $1.130. The bears just tried to pull the coin down after gaining a little strength. But buyers have already taken control of the coin. ZRXUSD will continue to rise after breaking past $1.300 as the momentum increases. This implies that bulls will keep rallying upward.
However, the coin was first in a plunging movement after a bullish ride to $1.300. Subsequently, that was a sharp liquidity run which went down to $1.000 before the coin continues to consolidate. ZRXUSD thereafter, traded down to $0.800 before the bullish reversal set in. The MACD on the daily chart (Moving Average Convergence and Divergence) indicator reveals price rise above the 0.00 level. This implies that the price is still in a bullish trend.
On the 4hour timeframe, ZRXUSD continues to make significant higher highs and lows. This is as a because of the position bulls and bears are holding in the market. The MACD line, however, shows a price level below the 0.00 level. This implies that the coin is still in a retracement. Price is reacting on the lower level of the Bollinger Band and it is set to bounce off to the $1.300 price level. ZRXUSD will therefore continue its bullish ride to $1.300 before the reversal sets in.
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