Key Takeaways
- The ZRX price closed the previous day’s trade at INR 72.20 with a market capitalization of INR 8.45 Cr and a circulating supply of 84,74,96,054.80 ZRX
- 0x price attempting hard to break through the current descending trend aiming at a 40% upswing which may validate a strong uptrend
Ox (ZRX) Technical – Analysis for the Month
The ZRX price’s April trade was somewhat stable as like many other tokens, 0x refused to slide down heavily. No doubt, the price followed a descending channel, but the very next spike kept the hopes of an uptrend alive. Therefore, with the next leg up, the price may slice through the INR 110 levels by the end of April’s trade.
Ox (ZRX) Technical Analysis at a Glance
The 0x price underwent a huge parabolic run but in an inverted way to reach the bottoms below INR 40. However, a strong upswing has raised the price above INR 70 at the moment which may be further escalated towards a 3-digit figure. An upcoming spike may not only test INR 100 but may also rise high beyond INR 120.
| Short-Term | The 0x price appears to have been completed with a spike followed by a correction. And hence a strong uptrend may be imminent |
| Mid-Term | The ZRX price may witness a notable drop as the buyers may remain silent for a while now |
| Long-Term | After a steep jump and drop, the price is attempting to resume with an uptrend and hence a minor buying volume is mounting |
Technical Indicators & Pivot Levels
Technical Indicators
| Technical Indicators | Value(1Hr / 1D) | Action (1Hr / 1D) |
| Relative Strength Index(RSI) | 42.13 / 59.63 | Sell / Buy |
| MACD(12,26) | -0.32 / 4.93 | Sell / Buy |
| Average Directional Index(ADX) | 72.01 / 28.00 | Oversold / Buy |
| Bull-Bear Power | -4.65 / 19.66 | Sell / Buy |
Pivot Levels
| Pivot Levels | Short-Term | Long-term |
| Moving Average(MA)-50 | INR 73.76 | INR 52.57 |
| Moving Average(MA)-200 | INR 61.32 | INR 64.84 |
| Resistance | INR 82.80 | INR 96.00 |
| Support | INR 61.58 | INR 36.82 |
Oscillators
| Oscillators | Short-Term | Long-Term |
| Stochastic Oscillator | 27.40 | 33.49 |
| Ultimate Oscillator | 33.36 | 46.72 |
| Average True Range(ATR) | 1.76 | 8.32 |
| CCI | -133.68 | 141.37 |
Additional Read: Ox (ZRX) Technical Analysis.
As the short-term forecast is pretty bearish, the price may continue within the descending consolidation until it reaches the local support. However, in the long term, the prices are extremely bullish and hence a steep uptrend may be imminent. The main concern lies within the ATR which points out towards the asset is highly volatile in HTF.
ZRX/INR Technical-Analysis for Short-Term
Source: Tradingview
- The Ox price in the short-term had sliced through the falling wedge pattern and spiked nearly 50% before it entered a descending consolidation
- The price scrambled down by 25% while the attempts of a rebound are currently going in vain.
- However, currently, the present candle is striving hard to form a Doji and hence the next upcoming bearish candle may be flipped into a bullish one
- With a strong breakout, the ZRX price may eventually lay down yet another magnificent spike towards INR 100
ZRX/INR Technical Analysis for Long-Term
Source: Tradingview
- The ZRX price with the recent spike had sliced through the descending trend line and surged high to test the upper resistance
- After a rejection, the price also underwent a retest which seems to flip any time from now as the buying pressure is slowly building
- With a strong bounce, the 0x price may initially hit the immediate resistance and achieve INR 100 levels at the earliest.
- Even if the bears get activated here, INR 100 may be holding strong to test the next resistance close to INR 120
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