ZRXUSD Price Extends Trading Length Lower
Estimated Reading Time: 2 minutes
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more
ZRXUSD Analysis – Price Value Is Extended Below the $0.248700 Key Zone
ZRXUSD price extends trading length lower beyond the $0.248700 key zone. The sellers are currently sighted lower as they plan to resume their long-awaited bearish trend. The market phase has been quiet as a result of trading in a consolidation phase for close to four and a half months now. Amidst this phase, the bulls were not left out if they were attempting a price reversal in the market. The buyers set up a price rally but failed to break through to the $0.455600 key level. The crypto price eventually corrected itself back into the consolidation phase in the market.
ZRXUSD Significant Levels
Resistance Levels: $1.11800, $0.67800
Support Levels: $0.456600, $0.248700
The sellers are now extending their strength outside of the consolidation phase following the price expansion downward. Since they were heavily involved in price distribution a few months ago, the bear sentiment appears ready to cause a massive flow in price trends. The sellers held a long crusade as a bearish outpour was seen from the $1.118000 key zone till the cryptocurrency market faced a deep plunge down to the $0.248700 key zone. The crypto price being held hostage in consolidation is a result of the long bearish fallout on the daily chart.
Sell traders are looking for more opportunities to trade lower as prices are expected to extend further in the coming days. The RSI (Relative Strength Index) is still focused on trading lower as sellers are setting up orders below the $0.248700 significant level. The Moving Average Crossing is also trending lower as the sellers’ yield continues.
Market Expectations
On the 4hr chart, the sell traders have broken out of price consolidation. The buyers are constantly engaging in price retracement at the moment. Nevertheless, we anticipate the selling moment to continue below the $0.248700 key zone.
You can purchase Lucky Block here. Buy LBLOCK
Note: Cryptosignals.org is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.
