ZRX is forming a potential double bottom at trendline support, which coincides with the 200-period EMA on the 4-hour chart.
Whether it bounces here will obviously depend on BTC and the rest of the crypto market. Bitcoin has broken lower after trading in a very tight range for the past two weeks – however, given the way it has been trading recently there is every chance this will turn out to be a false break. If that is the case, ZRX could reach 0.95 to 1.00 very quickly.
If the across the board selling continues, ZRX is likely to fall to 0.70 which will become the key level to watch.
Whether it bounces here will obviously depend on BTC and the rest of the crypto market. Bitcoin has broken lower after trading in a very tight range for the past two weeks – however, given the way it has been trading recently there is every chance this will turn out to be a false break. If that is the case, ZRX could reach 0.95 to 1.00 very quickly.
If the across the board selling continues, ZRX is likely to fall to 0.70 which will become the key level to watch.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.