• The short and medium-term outlook is in a range-bound market.
• Patience is required at this period of consolidation.

ZRX/USD Medium-term Trend: Ranging

Supply zones: 0.3600, 0.3800, 0.4000
Demand zones: 0.2000, 0.1800, 0.1600

The cryptocurrency medium-term outlook is in a range-bound market. The bulls had a successful ride to the target at $0.2500 as predicted over the weekend. The supply area at $0.2600 was the point of exhaustion with the close of the candle as a doji. This suggests a trend reversal as the coin consolidates.

The bears are in dominated the market within the range with today’s 4-hour opening candle at $0.2439. The coin was briefly down to $0.2398.

Price is hovering around the two EMAs and the signal of the stochastic oscillator pointing down at 36%. These suggest a downward momentum in price within the range in the medium-term

ZRXUSD is in consolidation and trading between $0.2600 in the upper supply area and at $0.2200 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area may occur hence patience is required to allow this to happen before a position is taken.

ZRX/USD Short-term Trend: Ranging

The cryptocurrency is in consolidation in the short-term outlook. The market opens on a bullish note at $0.2429 but lost momentum after a brief push to $0.2457 with the doji formation with the bears as the bears' control.

The signal of the stochastic oscillator pointing down at 66% and price is below the two EMAs crossover, an indication of downward momentum in price in the short-term within the range.

$0.2500 is the upper supply area while $0.2300 is the lower demand area. A breakdown or breakout in price may occur, hence patience should be exercised before taking a position after retest.

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