Annual Forecast for 0x (ZRXUSD) (2022)
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ZRXUSD Annual Forecast – Bulls Project to Reach the $1.300 Supply Zone
The annual forecast for ZRXUSD is a bullish projection towards the $1.300 supply zone. From February 2019 until May 2020, the ZRXUSD market was virtually silent and inactive. At the start of 2019, the market had entered a period of consolidation. For the entire year of 2019, the bulls and bears were at equilibrium. This is evident by the tiny size of the candles and the nearly equal number of bull and bear candles. In addition, the position of the Moving Average is undefined. It sat on top of the candles. The market was oversold throughout the year, as evidenced by the Stochastic Oscillator.
Major Zones on ZRXUSD
Resistance Zones: $1.900, $1.300, $0.950
Support Zones: $0.720, $0.530, $0.320
ZRXUSD Long Term Plan: Bullish
Long-term consolidation resulted in a price spike that began in April 2020. The gain was met with a retracement, signaling the beginning of a more positive movement. The $0.320 demand zone was used to propel the market to an annual high of $1.900 in 2021. At $1.909, a resistance zone was formed. After a reversal at $1.900, the price fell to $0.530.
The market has not had any meaningful expansion since it fell into the $0.530 zone like in the first half of 2021. Recently, the market fell to $0.720. The market is resting on a bullish trend line, with the next supply zone of $1.300 projected to be reached.
ZRXUSD Medium Term Plan: Bullish
Currently, the market is trading between the $0.950 resistance zone and the $0.720 support zone. Above the $0.950 level, there is an imbalance. The market is predicted to push up and fill the imbalance over $0.950 by using the trend line as support. The $0.720 demand zone is also expected to attract more buyers to push the price higher, the forecast is towards $0.950 and beyond.
The bulls would try to take advantage of the demand zone’s intersection with the trend line. On the weekly chart, the Stochastic is also poised for a positive advance. The market is currently displaying that it is oversold, so bullish movements are greatly anticipated.
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