OX Price Prediction Today: Daily (ZRX) Value Forecast – June 24
- The short-term is in a bearish trend while the medium-term outlook is in a range-bound market.
- Patience is required while trading the 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 continues in a range-bound market. $0.3721 was the high of the week while $0.3180 was the low of the range over the weekend. The bears' pressure remained strong as each time a breakout occurred price is formed back within the range. ZRXUSD fell to $0.3357 before the close of yesterday market.
Price is back up at $0.3477 after today opening price at $0.3441. The stochastic oscillator signal points down at 32% which suggest downward movement in price within the range in the medium term.
The cryptocurrency is in consolidation and trading between $0.3600 in the upper supply area and at $0.3200 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: Bearish
The cryptocurrency is in a bearish trend in the short-term outlook. The market opened on a bearish note at $0.3463. The cryptocurrency dropped further $0.3285 before exhaustion sets in. Price rose to $0.3466 in the supply area. This created a bearish flag.
A drop to $0.3200 in the demand area is the bears' imminent target as they stage a comeback in the short-term. This is further confirmed by the signal of the stochastic oscillator pointing down at 59% with price below the two EMAs.
Live 0x (ZRX) Price:
1 ZRX/USD =$1.5015 change ~ -5.14%
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