0X (ZRX) Continues to Disappoint Investors

17 November 2019 | Updated: 17 November 2019

Key Resistance levels: $0.30, $0.35, $0.40
Key Support Levels: $0.20, $0.15,$0.10

ZRX/USD Price Long-term Trend: Bearish
The ZRX/USD pair is in a downward move after the market retests the $0.30 price level. In October, the coin was in a bullish move and tested the $0.35 resistance level. The bulls tested the $0.35 price level again and formed a bearish double top. With the formation of the bearish double top, the coin fell to the support line of the channel.

The bulls may a retest at the $0.30 price level and resumed the downward move. The market has fallen to a low of $0.27 and it is consolidating above that level. This was the previous low in May. However, if the price breaks below $0.27, the pair will drop to a low at $0.20. Nevertheless, if the $0.27 support holds, the price will move up.

ZRXUSD-Daily Chart

Daily Chart Indicators Reading:
The price has fallen to the support of the 50-day SMA and if the 50-day SMA holds, the 0x will move up to retest the resistance level. The RSI period 14 level44 indicates that the price is in the range-bound zone.

ZRX/USD Medium-term bias: Ranging
The bulls move up to test the resistance at $0.35 on two occasions and commenced a sideways move. The coin is fluctuating between the levels of $0.27 and $0.35. Nevertheless, the bears tested the support line and rebounded. The pair is likely to continue with the sideways move.

ZRXUSD-4 Hour Chart

4-hour Chart Indicators Reading
The 21-day SMA and 50-day SMA are trending horizontally indicating that price is in a sideways move. The stochastic indicator is above the 40% range indicating that price is in bullish momentum.

General Outlook for 0x
The ZRX/USD pair is in a downward move but the price is ranging above the $0.27 support level. After the sideways move above $0.27 and if the bears break below the support level, the selling pressure will resume.

0x Trade Signal
Instrument: ZRXUSD
Order: Buy Limit
Entry price: $0.25
Stop: $0.20
Target: $0.35

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.