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- 1 The price of 0x is currently trading near $0.20 with a 78% rise in the 24-hour trading volume (at publication time).
- 2 0x price is down by 4.23% over the last 7 days.
Observing the 0x price prediction it can be estimated that bears may enter the price action shortly. ZRX token recently made a rally to retest its major barrier near 200 EMA, though it was not successful in breaching it. Presently, the price is moving near its immediate support point though it may not be sufficient to sustain the buyers’ momentum above the support zone as the current trend is presenting the path of least resistance to bears.
The ZRX price recently formed an engulfing red candle which suggests that bearish momentum is increasing in the market. The buyers are attempting to sustain the price though their efforts may go in vain because of the strong selling pressure. The majority of technical indicators such as support and resistance, oscillators, and EMAs are in bears’ favor.
The present value of 0x is $0.20 (press time). It has a market capitalization of around $173.71 Million, which surged over the past few weeks.
Abrupt Surge In Parameters of LunarCrush
Recently, a significant surge was observed in the 24h trading volume and social engagement levels regarding ZRX token in the LunarCrush platform
The social engagement metrics on LunarCrush suggest the community’s interest in the token is rising across the majority of social media platforms. The social engagement level is up by 969.43%. Total bullish sentiment metrics recorded a slight drop of 7.14%.
0x Price Prediction: Technical Analysis on 1-Day Chart
Presently, ZEX token is taking a rejection from a vital resistance point near 200 EMA. If the sellers take hold of the market, it may cause the price to fall by around 25% in the near future. The majority of technical indicators imply that a bearish decline is more liable on a daily chart.
The RSI line is mimicking the price action. It is suggested that it may retest the 14 SMA. The current RSI value of the ZEX token is 49.31 points, whereas the 14 SMA is providing resistance to it at around 53.39 points.
Conclusion
According to the analysis, 0x price prediction suggests bears are likely to step into the price action if the price breaks its immediate support zone. The majority of technical indicators such as support and resistance, oscillators, and EMAs present similar perspectives.
Technical Levels:
Support – $0.1500
Resistance – $0.3000 and $0.2500
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.