• 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: 0.2800, 0.2700, 0.2600

The cryptocurrency medium-term outlook is a range-bound. With $0.2802 as the low and $0.3127 as the high of the session over the weekend, the coin continues in consolidation as the new trading week began.

The 4-hour opening candle had the bulls in control at $0.3003. Increased bullish momentum pushed price up to $0.3254 with the candle closing as long-wick inverted candle an indication of exhaustion a possible reversal within the range.

ZRXUSD is in consolidation and trading between $0.3300 in the upper supply area and at $0.2700 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 remains in consolidation in the short-term outlook. The bulls were in dominance with today’s opening price at $0.2993. Increased momentum led to price breakout at $0.3100 in the supply area. ZRXUSD rose to $0.3238 in the supply area.

The retest was not voided as the bears pushed price back into range at $0.295 above the two EMAs. The signal of the stochastic oscillator points up at 24% an indication of upward movement in price within the range 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.

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