OX Price Prediction Today: Daily (ZRX) Value Forecast – July 4
- The medium-term is in a downtrend while the short-term outlook is in a range-bound market.
- Patience should be exercise trading the consolidation.
ZRX/USD Medium-term Trend: Bearish
Supply zones: 0.3600, 0.3800, 0.4000
Demand zones: 0.2000, 0.1900, 0.1800
ZRXUSD medium-term outlook is a bearish trend. The bullish spinning top before the close of yesterday session pushed the coin up to $0.3166 in the supply area. The wicks in the candle denote exhaustion as the bulls lost momentum.
The 4-hour opening candle had the bears in control with the break of the resistance at 10-EMA. Price dropped to $0.2950. Increased bearish momentum led to a further drop to $0.2889 as the journey down south continues.
Price is below the two EMAs and the signal of the stochastic oscillator points down at 51% suggesting downward continuation in price of the coin with a retest at the previous low of $0.2741 and subsequently to $0.2700 in the demand area.
ZRX/USD Short-term Trend: Ranging
The cryptocurrency is in consolidation in the short-term outlook. The bullish spinning top formed at $0.2944 shortly after yesterday opening returned the bulls. Increased momentum pushed the coin to$0.3110 in the upper supply area as the cryptocurrency enters a ranging market.
Today's 1-hour opening candle though bullish at $0.2980 and price rose briefly up to $0.3049, rejection and exhaustion occurred at the upper price range which is denoted by wicks. The bears are gradually in control of the with the break of the two EMAs price drops to $0.2916.
The signal of the stochastic oscillator points down at 21% and price is below the two EMAs, an indication of further downward movement in price within the range may occur in the short-term.
$0.3100 is the upper supply area of the range while $0.2800 is the lower demand area of the range. Traders should be patient and wait for price breakout or breakdown with a retest before taking a position.
Live 0x (ZRX) Price:
1 ZRX/USD =$1.5993 change ~ 5.28%
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