In this 0x Protocol technical analysis, we will examine the current price action, trading volume, key levels and indicators for ZRX-BTC. 0x Protocol (ZRX) is an open-source blockchain protocol that enables the creation of decentralized exchanges (DEXs) and other financial applications. It utilizes a novel consensus algorithm called “work-proof” to ensure the security and integrity of its network. With 0x Protocol, developers can build and deploy highly scalable and interoperable decentralized applications (dApps) that can seamlessly interact with one another.
0x Protocol Price Overview:
As of May 16, 2024, 0x Protocol is trading at approximately 1e-05 BTC. Let’s dive into the detailed price action for ZRX-BTC:
| Metric | Value |
|---|---|
| Open (O) | 1e-05 |
| High (H) | 1e-05 |
| Low (L) | 1e-05 |
| Close (C) | 1e-05 |
| Volume (C) | 454,296.00 |
- Open (O): The opening price for today’s trading session was approximately 1e-05 BTC.
- High (H): 0x Protocol reached a daily high of around 1e-05 BTC.
- Low (L): The daily low for ZRX-BTC was approximately 1e-05 BTC.
- Close (C): At the time of analysis, 0x Protocol is trading near its daily close of 1e-05 BTC.
| Metric | Value |
|---|---|
| 1D Change (%) | 3.79% |
| 3D Change (%) | 2.64% |
| 7D Change (%) | -4.27% |
| 30D Change (%) | -4.15% |
| 90D Change (%) | 12.29% |
| YTD Change (%) | -15.62% |
Over the past three days, ZRXBTC has increased by approximately 2.64%, showcasing increased market volatility. Throughout the last week, it continued to decline, with a loss of around -4.27%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with ZRXBTC maintaining a downward trend of approximately -4.15%, despite intermittent fluctuations. Examining the last 90 days, ZRXBTC has witnessed substantial rise of approximately 12.29%, reflecting strong long-term confidence. Year-to-date, ZRXBTC has steadily decreased by around -15.62%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
0x Protocol Live Chart:
You can access a live price chart for ZRX-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.29667.
- Momentum score is -0.08075.
ZRX BTC Technical Analysis
0x Protocol Trading Volume:
The trading volume for 0x Protocol (ZRX) over the past 24 hours has been significant, with approximately 454,296.00 BTC traded against ZRX. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): ZRX is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): 0x Protocol is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for ZRX-BTC is currently in the low zone, around 42.59108. This suggests that 0x Protocol is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
0x Protocol (ZRX-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the low RSI and significant trading volume are low signals for potential downward movement.
Navigate 0x Protocol’s (ZRXBTC) potential downturns at 7.40e-06 BTC with bearish technical analysis, emphasizing weakened support and cautionary indicators.
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Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.