OX Price Prediction Today: Daily (ZRX) Value Forecast – July 31

  • The short-term is in the bullish trend while the medium-term outlook is in a range-bound market.
  • Patience is required for trading the consolidation.

ZRX/USD Medium-term Trend: Ranging

Supply zones: 0.3600, 0.3800, 0.4000
Demand zones: 0.2000, 0.1900, 0.1800

The cryptocurrency medium-term outlook continues in a range-bound market. With the bears in control as the market opens today at $02241, price fell further to $02078 beyond the lower demand at $02200. The close of the candle within the range coupled with the wick implies trend reversal as the bulls stage a return.

The rally was sustained with the ZRXUSD initially up at $02255. Increased bullish momentum pushed the price further p to $02301 within the range.

Price is above the 10-EMA and the signal of the stochastic oscillator is pointing up at 45% an indication of upward momentum in price within the range in the medium-term.

ZRXUSD is in consolidation and trading between $0.2500 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: Bullish

The cryptocurrency is in a bullish trend in the short-term outlook. The retest at the key demand area shortly after today’s opening’s confirmed the uptrend continuation in the short-term. $02255 was the initial high after the breakout from the two EMAs.

Increased bulls sustained the momentum up north with $02300 in the supply area retested.

Price is above the two EMAs with the stochastic oscillator at 36% suggesting a minor drawdown before uptrend continuation.

$02320 in the supply area is on the horizon as the pressure on the coin becomes stronger in the short-term.

Live 0x (ZRX) Price:

1 ZRX/USD =$0.4346 change ~ 10.68%

Coin Market Cap

$313 Million

24 Hour Volume

$22.42 Million

24 Hour VWAP

$0

24 Hour Change

$0.0464

 

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

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Azeez Mustapha
Azeez began his FinTech career path in 2008 after growing interest and intrigue about market wizards and how they managed to become victorious on the battlefield of the financial world. After a decade of learning, reading and training the ins and outs of the industry, he’s now a sought after trading professional, technical/currency analyst and funds manager - as well as an author.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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