0X (ZRXUSD) Buyers Are Hanging Below the $0.300 Critical Level
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0X (ZRXUSD) Analysis – Buyers Keep the Market Hanging Close to the $0.300 Critical Level
ZRXUSD buyers are keeping the market hanging below the $0.300 price level as they seem to assert their influence. In a bid for the buyers to trade the price against the general bearish trend, the market has refused to drop far from below the $0.300 critical level. The buyers’ intention is to reclaim the $0.300 critical level and then reach for higher price.
ZRXUSD Key Levels
Resistance Levels: $0.450, $0.680
Support Levels: $0.150, $0.300
The 0x market reached its climax when it rose to a 6 month high of around $1.100 on the 21st of April. Since then, the bears have been in dominance of the mark. This shows in the general trend of the market. The coin first drops below $0.680 and dipped directly below $0.450. The buyers regained some strength to temper the drop. The coin was found hanging below the $0.450 key level, but buyers still lost their position after a while and the price dropped.
ZRXUSD price at present is now hanging below the $0.300 critical level despite the current bearish trend. The coin is determined to break back above the $0.300 key level. To achieve this the price might still have to pull back to the $0.150 to gain more support and momentum to break the resistance. The Stochastic Oscillator in the oversold region is an indication that we can expect an upthrust in the price.
Market Expectations
ZRXUSD market is already making upward moves in the short term. The latest candlesticks on the 4-hour chart have now traded to the upside of the MA period 20 (Moving Average). The Stochastic lines have been lifted from the oversold region and are now hovering below the overbought region border. The market is projected to break the $0.300.
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