Crypto Technical Analysis

0x (ZRX) Technical Analysis: ZRX Aims at a Parabolic Recovery, Will it Hit INR 100?

Key Takeaways

  • The ZRX price closed the previous day’s trade at INR 72.20 with a market capitalization of INR 8.45 Cr and a circulating supply of 84,74,96,054.80 ZRX
  • 0x price attempting hard to break through the current descending trend aiming at a 40% upswing which may validate a strong uptrend

Ox (ZRX) Technical – Analysis for the Month

The ZRX price’s April trade was somewhat stable as like many other tokens, 0x refused to slide down heavily. No doubt, the price followed a descending channel, but the very next spike kept the hopes of an uptrend alive. Therefore, with the next leg up, the price may slice through the INR 110 levels by the end of April’s trade.

Ox (ZRX) Technical Analysis at a Glance

The 0x price underwent a huge parabolic run but in an inverted way to reach the bottoms below INR 40. However, a strong upswing has raised the price above INR 70 at the moment which may be further escalated towards a 3-digit figure. An upcoming spike may not only test INR 100 but may also rise high beyond INR 120. 

Short-Term The 0x price appears to have been completed with a spike followed by a correction. And hence a strong uptrend may be imminent
Mid-Term The ZRX price may witness a notable drop as the buyers may remain silent for a while now
Long-Term After a steep jump and drop, the price is attempting to resume with an uptrend and hence a minor buying volume is mounting

Technical Indicators & Pivot Levels

Technical Indicators

Technical Indicators Value(1Hr / 1D) Action (1Hr / 1D)
Relative Strength Index(RSI) 42.13 / 59.63 Sell / Buy
MACD(12,26) -0.32 / 4.93 Sell / Buy
Average Directional Index(ADX) 72.01 / 28.00 Oversold / Buy
Bull-Bear Power -4.65 / 19.66 Sell / Buy

Pivot Levels

Pivot Levels Short-Term Long-term
Moving Average(MA)-50 INR 73.76 INR 52.57
Moving Average(MA)-200 INR 61.32 INR 64.84
Resistance INR 82.80 INR 96.00
Support INR 61.58 INR 36.82

Oscillators

Oscillators Short-Term Long-Term
Stochastic Oscillator 27.40 33.49
Ultimate Oscillator 33.36 46.72
Average True Range(ATR) 1.76 8.32
CCI -133.68 141.37

Additional Read: Ox (ZRX) Technical Analysis.

As the short-term forecast is pretty bearish, the price may continue within the descending consolidation until it reaches the local support. However, in the long term, the prices are extremely bullish and hence a steep uptrend may be imminent. The main concern lies within the ATR which points out towards the asset is highly volatile in HTF.  

ZRX/INR Technical-Analysis for Short-Term

Source: Tradingview

  • The Ox price in the short-term had sliced through the falling wedge pattern and spiked nearly 50% before it entered a descending consolidation
  • The price scrambled down by 25% while the attempts of a rebound are currently going in vain. 
  • However, currently, the present candle is striving hard to form a Doji and hence the next upcoming bearish candle may be flipped into a bullish one
  • With a strong breakout, the ZRX price may eventually lay down yet another magnificent spike towards INR 100

ZRX/INR Technical Analysis for Long-Term

Source: Tradingview

  • The ZRX price with the recent spike had sliced through the descending trend line and surged high to test the upper resistance
  • After a rejection, the price also underwent a retest which seems to flip any time from now as the buying pressure is slowly building
  • With a strong bounce, the 0x price may initially hit the immediate resistance and achieve INR 100 levels at the earliest. 
  • Even if the bears get activated here, INR 100 may be holding strong to test the next resistance close to INR 120

Where & How to Buy Ox (ZRX)

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Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. In case you have any queries, write to .
The above information represent the independent views of Primestack Pte. Ltd, Neblio Technologies Pvt. Ltd, and/or their affiliate entities and are for informational & educational purposes only. The content, information or data provided above is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or shares, virtual digital assets/ crypto products or securities, or to participate in any investment or trading strategy. Any statement or communication made above shall not be treated as a legal, financial, investment or tax advice by the reader. The calculations, data, risk-return formulations, performance or market capitalization indicators captured above are based on the independent data sourcing including collation of public information and/or analysis performed by analysts, advisors or employees of Primestack Pte. Ltd/ Neblio Technologies Pvt. Ltd and/or their affiliate companies and/or any third party. Past performance is not indicative of any future results. The reader(s) are hereby advised to consult their financial/ legal/ tax advisor(s) before making any investment.


 

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