Ox (ZRXUSD) Coin Gets Ready For a Massive Pump
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ZRXUSD Key Zones
Demand Zones: 0.255, 0.355
Supply Zones: 2.155, 2.000
On the crypto market, Ox coin commonly known as ZRX has been heavily bearish for the past two weeks as seen on the weekly chart. The market reached a supply zone at 2.000 and price plunged heavily. The market dropped through the 1.290 demand zone easily as price continued to fall. The price has reached a key zone at 0.645 which has previously acted as support multiple times as well as resistance the most recent times.
Market Expectation of Ox Coin
Ox coin large impulsive move would eventually experience correction when sudden price dash is exhausted. The key zone at 0.645 might be sufficient to stop the fall in the price.
The Relative Strength Index (RSI) on the weekly chart is currently on 42.54 as at the time of writing which is below equilibrium showing a market bearish move run. The Average Directional Movement Index (ADX) on the daily chart shows 51.50 which depicts that the bearish run has been very strong. The stochastic has also bounced off the overbought zone and is also reaching for the oversold zone.
The four-hour chart shows a repeated break in market structure lower. The market has reached previous highs before dropping lower. The four-hour chart shows classic resistance and support. Ox currently has not reached the previous support level as seen repeatedly in the past.
The RSI on the four-hour chart is currently 27.59 which is an oversold region signifying readiness for a buy. The stochastic is also in the oversold region, its signal lines are crossing in the signifying a buy.
The Ox coin is showing clear signs of market pump has its price has reached a key zone. Price is also expected to trade up higher into a previous support level.
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