ZRXUSD Is Falling Short; Aiming Towards $0.50
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ZRXUSD Analysis – Price Is Aiming for $0.50
ZRXUSD is aiming towards $0.5 as the price continues to fall. The market is still consolidating between the significant key levels of $1.20 and $0.50. The bears are assumed to be holding up power as the price continues to accumulate at these levels. The price is, however, expected to go down as it continues in its consolidation phase.
ZRXUSD Significant Levels:
Resistance Levels: $2.20, $1.60
Support Levels: $1.20, $0.50
The market cycle began with a bullish rally. The bulls, however, gained a liquidity run-up to the $2.20 significant level. The price then continues to range between $2.20 and $0.5, significant levels. Rejections of candle wicks are in between the range. ZRXUSD, however, then falls short after accumulating significant key levels. The bear gained a massive momentum close to $0.50.
There were price reactions at the $1.20 significant level before the market begins to consolidate in these new zones. Price retested this level three times before returning to $0.50. As a result, this level has become a significant zone as the market begins to fluctuate within it. The MA (Moving Average) crossing shows a downward cross over above the candlesticks. This suggests that the market is still in a bearish consolidation phase. However, the price is aiming for $0.50.
Market Predictions
On the 4hour chart, the price is falling short. The bears, however, are still in control of the situation. The price is seen dropping and heading back to a $1.20 significant level to retest before continuing. The Stochastic Oscillator shows the price direction in the middle region. There is a golden cross and the price will then go lower as expected. The Moving Average indicator also displays a cross above, acting as resistance. ZRXUSD is set to rebound and fall to continue its bearish movement. The price is, therefore, expected to get to $0.50 as the bearish direction continues.
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