0x Protocol (ZRX) Stays on an Upward Track Following a Recent Rebound Off the $0.4490 Mark

Buyers in the 0x Protocol daily market as of the time of writing have clinched additional moderate gains. This has seen the price of the token rise back above important technical landmarks. In addition, this brightens up upside hopes in this market. Let’s take a closer look at things below.

0x Protocol Statistics:

ZRX Price: $0.5260

ZRX Market Capitalization: $457.8M

0x Protocol Circulating Supply: 848.39M

ZRX Total Supply: 1B

ZRX CoinMarketCap Rank: 169

Key Price Levels:

Resistance: $0.5500, $0.6000, $0.6500

Support: $0.5000, $0.4500, $0.4000

ZRX Holds Much Gains Above the 50-Day MA

Following the most recent upside rebound in the 0x Protocol market, the ZRX token has maintained an upward trajectory. Currently, the corresponding price candle to the ongoing session sits above the 50-day Moving Average (MA) lines. Also, the mentioned price candle stays bullish judging by its appearance.

Simultaneously, the Stochastic Relative Strength Index (RSI) indicator can be seen rising steadily upwards from the oversold region. Also, the movement of the lines of this indicator can be seen progressing upward smoothly. This points out that upside forces are strong and in control of price movements.

Bulls in the 0x Protocol Market Are Persistent

Price action in the 0x Protocol 4-hour market is revealing that upside forces are persistent. Also, it could be seen that the market had risen steadily upwards of the $0.4490 support level. Meanwhile, the last price candle on the chart is green and, as such, shows that buyers are still dominating.

Likewise, the Stochastic RSI lines are high in the overbought region. Additionally, the terminal part of these indicator lines is divergent and almost near the terminal level of the indicator. Therefore, market participants may aim for short-term gains at the $0.5500 price level.

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