• On the upside, if the bulls break above the EMAs, the crypto’s price will rise and retest the $0.3400 resistance level.
• On July 16, the downward trend was corrected at the $0.2163 price level.

ZRX/USD Medium-term Trend: Bearish

• Resistance Levels: $ 0.44, $0.46, $ 0.48
• Support Levels: $0.20, $0.18., $0.30

Yesterday, July 25,  Ox price was in a range bound move below the 12-day EMA and the 26-day EMA.  On July 16, after the downward trend correction at the $0.2163 price level the bulls  made an upward move to break above the EMAs. The bulls are facing resistance at the 12-day EMA . On the upside, if the bulls break above the EMAs, the crypto’s price will rise and retest the $0.3400 resistance level. On the other hand , if the bulls fail to break the EMAs, the price will continue to range below the EMAs.

Meanwhile, the ZRX market is in the oversold region of the daily stochastic but above the 20% range. This indicates that price is in a bullish momentum and buy signal.Traders should look out to buy setups in orders to initiate longer traders in anticipation of a bullish trend.

ZRX/USD Short-term Trend: Bullish

On the 1-hour chart, the ZRX price was in a bullish trend zone. The 12-day EMA and 26-day EMA are sloping upward indicating an uptrend. On July 13, the bulls are making an upward move to break above the 12-day EMA and the 26-day EMA. Meanwhile, the price is in the oversold region of the daily stochastic but above the 40% range. This indicates the price is in a bullish momentum and a buy signal.

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