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The 0x protocol market has been notably performing in recent times, showcasing a price movement from one elevated support to another. Today’s session indicates that the price action is seeking yet another elevated support level.
Key ZRX Statistics:
Current 0x Protocol Value: $0.2657
ZRX Market Cap: $224,846,652
Circulating Supply of 0x Protocol: 847,496,055
Total Supply of ZRX: 1,000,000,000ZRX
CoinMarketCap Ranking: 133
Key Price Levels:
Resistance: $0.2657, $0.2750, and $0.2850
Support: $0.2600, $0.2500, and $0.2400
0x Protocol Price Gains Significant Traction
The ongoing session in the ZRX market displays a price candle with a notably long body, suggesting further upward movement. The session has broken further into bear territory, highlighted by the Fibonacci Retracement level.
Moreover, the current session has lifted the token’s price higher above the Guppy Multiple Moving Average curve (GMMA), indicating that the upside momentum remains despite a slight downward rejection in the ongoing session. Additionally, a bullish crossover is evident on the Relative Strength Index (RSI) indicator following this substantial price increase, signaling the potential for further market uptrends.
ZRX’s Upside Retracement Shows Progress
Expanding the scope of the 0x protocol price analysis to a 4-hour market, it is apparent that buyers continue to exert upward pressure. Another session has been initiated, maintaining an upward trajectory, and bringing the market closer to the $0.2700 price threshold.
This new session suggests that price action might have found support above the $0.2650 mark. Although the leading line of the RSI may not rise past the 100 mark, as it tends to move sideways after reaching that level, it still indicates a potential market rise through the $0.2700 threshold towards the $0.2750 mark.
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