OX Price Prediction Today: Daily (ZRX) Value Forecast – July 17
- The short and medium-term outlook is in the downtrend.
- Traders may consider selling at pullback areas with bearish candlestick pattern as confirmation.
ZRX/USD Medium-term Trend: Bearish
Supply zones: 0.3600, 0.3800, 0.4000
Demand zones: 0.1800, 0.1600, 0.1400
The cryptocurrency medium-term outlook remains in a bearish trend. The rally to $0.2300 at the 10-EMA as predicted was attained. Price shot up further $0.2737 in the supply area before exhaustion sets in. ZRXUSD has been on free fall due to rejection at the supply area. $0.2106 in the demand area was yesterday low the end of the session.
Today’s 4-hour opening candle at $0.2162 closed as a doji but the bears took control of the market as the journey down south resumes. Price already down to $0.2074.
Price is below the two EMAs and the signal of the stochastic oscillator pointing up at 18% in the oversold region suggesting downward momentum in price in the medium-term.
$0.1800 in the demand area remains a target after the retest at $0.2013 in the demand area.
ZRX/USD Short-term Trend: Bearish
The cryptocurrency is in a bearish trend in the short-term outlook. After the drop in price to $0.2176 in the demand area during yesterday session, the bears lost momentum. This was to the correction in the form of consolidation.
The coin was up at $0.2234 in the supply area shortly after opening at $0.2176. The pinbar formation around the 10-EMA signaled bears return. The lower line was broken suggesting resumption of the downward continuation.
The signal of the stochastic oscillator pointing down at 22% an indication of downward momentum in price in the short-term with $0.2000 in the demand area as an initial target.
Live 0x (ZRX) Price:
1 ZRX/USD =$1.8565 change ~ -4.34%
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.