ZRX (0X/USD) Reaches a Bearish Limit as the $0.209 Price Level Attracts Buyers
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After the ZRX market reached the $0.383 price level, the bears gathered enough momentum to overrun the market. The decline in price was not steep due to the presence of bulls in the previous daily trading sessions. The bulls were, at some point, able to constrain the market into brief price consolidation trends. The bearish trend may be approaching its end as a new support level is now seen forming at the $0.21 price level.
0X/USD Price Statistics
- 0X/USD Price Now: $0.2223
- 0X/USD Market Cap: $188,412,006
- 0X/USD Circulating Supply: 19,272,259
- 0X/USD Total Supply: 847,496,054 ZRX
- 0X/USD CoinMarketCap Ranking: #150
Key Levels
- Resistance: $0.275, $0.317, and $0.34
- Support: $0.17, $0.16, and $0.15
Price Prediction for ZRX: The Indicators’ Point of View
At the $0.2088 price level, the bear market may be reaching the end of the trend. On March 28, the last bullish cycle started at this sane $0.2088 price level. Traders might want to start placing long trades at this level so that they can have good, profitable returns when the market completes its bullish cycle. And as we can now see, the bull market is bouncing back at this same point. Also, in the Relative Strength Index (RSI) indicator, the RSI line is turning to the upside as the selling pressure reduces. However, the Moving Average Convergence and Divergence (MACD) indicator has not yet reflected this bullish recovery. The MACD indicator is a bit lagging.
0X/USD 4-Hour Chart Outlook: Bullish Recovery In Progress
After the price consolidation trend reaches its climax point, when the distance between support and resistance grows very close to each other as a sign that there is about to be an explosion of the market in a definite direction, we saw the market moving significantly in a bearish direction. But because the bullish sentiment around $0.2088 is growing strong, the bear market is being cut short. The Moving Average Convergence and Divergence (MACD) indicator is now beginning to show signs of a bullish recovery.
