• The short and medium-term outlook is in the uptrend.
• Traders may consider buying with bullish reversal candles as confirmation in key areas.

ZRX/USD Medium-term Trend: Bullish

Supply zones: 0.3600, 0.3800, 0.4000

Demand zones: 0.2800, 0.2700, 0.2600

The cryptocurrency medium-term outlook is in the bullish trend. The bears lost momentum at $0.2035 as failure to retest $0.2013 in the demand area created the double bottom. This is an indication of bulls takeover with confirmation by a large engulfing candle at $0.2098.

ZRXUSD rose to $0.2404 in the supply area before the end of yesterday session.

Today’s 4-hour opening candle at $0.2273 closed as a doji after minor bearish correction which drops the coin to $0.2210 in the supply area.

Price is above the 10-EMA and the signal of the stochastic oscillator pointing up at 36%. These suggest an upward momentum in price in the medium-term with the resistance at the 50-EMA a task for the bulls to break as the journey up north continues.

$0.2500 in the supply area is the bulls initial target as the rally continues with $0.2700 as the next in the medium-term.

ZRX/USD Short-term Trend: Bullish

The cryptocurrency is in an uptrend in the short-term outlook. The tweezer bottom at $0.2035 in the demand area during yesterday session, triggered the bulls returned with price up at $0.2404 in the supply area before the end of yesterday session.

The rally was sustained after today’s opening market with the bullish railroad at $0.2213 after the minor retracement by the bears.

The signal of the stochastic oscillator pointing up at 72% and price up at above the EMAs crossover, an indication of upward momentum in price in the short-term with $0.2400 in the supply area as an initial target.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.