In this 0x Protocol technical analysis, we will examine the current price action, trading volume, key levels and indicators for ZRX-USDT. 0x Protocol (ZRX) is an open-source blockchain protocol that enables the creation of decentralized exchanges and other financial applications. It utilizes a novel consensus algorithm called “proof of transfer” to secure its network and ensure the integrity of transactions. Additionally, 0x Protocol supports a wide range of assets, including both tokens and smart contracts, making it a versatile platform for developers and traders alike.
0x Protocol Price Overview:
As of May 02, 2024, 0x Protocol is trading at approximately 0.4672 USDT. Let’s dive into the detailed price action for ZRX-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.4644 |
| High (H) | 0.4709 |
| Low (L) | 0.4484 |
| Close (C) | 0.4672 |
| Volume (C) | 7,025,717.00 |
- Open (O): The opening price for today’s trading session was approximately 0.4644 USDT.
- High (H): 0x Protocol reached a daily high of around 0.4709 USDT.
- Low (L): The daily low for ZRX-USDT was approximately 0.4484 USDT.
- Close (C): At the time of analysis, 0x Protocol is trading near its daily close of 0.4672 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | 0.60% |
| 3D Change (%) | -6.00% |
| 7D Change (%) | -10.05% |
| 30D Change (%) | -28.60% |
| 90D Change (%) | 44.82% |
| YTD Change (%) | 25.76% |
Over the past three days, ZRXUSDT has decreased by approximately -6.00%, showcasing increased market volatility. Throughout the last week, it continued to decrease, with a loss of around -10.05%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with ZRXUSDT maintaining a downward trend of approximately -28.60%, despite intermittent fluctuations. Examining the last 90 days, ZRXUSDT has witnessed substantial increase of approximately 44.82%, reflecting strong long-term confidence. Year-to-date, ZRXUSDT has steadily increased by around 25.76%, 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-USDT 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 0.90048.
- Momentum score is -0.26886.
ZRX USDT Technical Analysis
0x Protocol Trading Volume:
The trading volume for 0x Protocol (ZRX) over the past 24 hours has been significant, with approximately 7,025,717.00 USDT 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-USDT is currently in the low zone, around 42.67852. This suggests that 0x Protocol is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
0x Protocol (ZRX-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the low RSI and significant trading volume are low signals for potential downward movement.
Follow potential bearish trend for 0x Protocol (ZRXUSDT) at 4.67e-01 USDT with technical analysis, indicating cautionary indicators and weakened support.
Missing our detailed breakdown on ZRX BTC 0x Protocol Technical Analysis would be a lost opportunity if you found value in this post.
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.