Get Ready For Second Big Bullish Wave Of Ox (ZRX)SMA and key level support:
After a powerful bull run the price of ZRX dropped at a very strong support of $0.50 which is a key level of support for the priceline of ZRX. Previously this $0.50 support level has been working as a resistance as well. Now the same time the price action of Ox has also bounced by the weekly 100 simple moving average support as well. Therefore, at the same time, the ZRX is having a strong support of 100 simple moving average and the key support of $0.50
Stochastic and MACD:
After this drastic drop it can be easily observed that on the weekly time frame chart, the stochastic oscillator has entered the oversold zone, which is indicating that the ZRX is quite oversold now. If we take a look at the moving average convergence divergence (MACD) indicator then it can be also noticed, that it has started turning bullish, previously it was very strong bearish.
Falling wedge and RSI:
On the daily time frame chart, the priceline of Ox was moving in a falling wedge pattern. This is considered to be a bullish reversal pattern and if we watch the movement of the candlesticks within this falling wedge with the combination of RSI oscillator, then it can be observed that whenever the price line is reaching the support of falling wedge and RSI is visiting the oversold zone, the candlesticks are moving towards the upside and making attempts for the breakout.
Finally, the price action reached the support while the RSI was entered the oversold zone. The price action of ZRX started moving towards the upside with the RSI and broke out the resistance of the falling wedge pattern. At the moment it is trying to break out the 50 simple moving average on the daily time frame.
Big bullish Butterfly move:
On the 4-day chart, the price action of the ZRX has completed the bullish Butterfly pattern. There is also 100 simple moving average support in the buying zone and the 200 SMA below this zone. The buying and sell targets as per the Fibonacci sequence of the Butterfly pattern should be:
Buy between: $0.95 to $0.5555
Sell between: $1.26 to $2.00
The maximum extent of potential reversal zone to $0.5555 can be used as stop loss or to minimize the risk factor the 100 SMA can be used for this purpose. As per the above targets, this trade has a huge profit possibility of 260%, and the high loss possibility upto 42% but I would suggest using 100 SMA as stop loss to minimize the loss.
Zrx
ZRX and all alts about to rise up within the week!Looking at the 5 day. Looks like we have some decent support at the 200MA. The Macd also looks like its bottoming out and about to turn around. Also the chande momentum oscilator looks like its pointing back up! Hopefully we see a nice little bull run next week!!
Ox (ZRX) formed a big bullish Butterfly for upto 260% big moveHi dear friends, hope you are well and welcome to the new update on Ox (ZRX) token.
On the 4-day chart, the price action of the ZRX has completed the bullish Butterfly pattern. There is also 100 simple moving average support in the buying zone and the 200 SMA below this zone.
ZRX Conservative Bullish TradeJust spotted a Bullish Butterfly on ZRX.
There is also divergence in the MACD.
Advantages of this trade:
A handsome Risk Reward,
The Butterfly is almost to good to be true. It has very precise ratios.
Extremely conservative trade.
The retracement to 23.6% retracement is very likely.
There is a nice W in the 1hr chart that is giving a solid base for a nice PRZ. (Potential Reversal Zone)
Disadvantages:
Is not alt season.
Is crypto.
Dump can happen anytime.
Target :0.2117 (23.6% retracement level). If you want to be bit more agressive you can go for the 38.2% and even the 50% and 61.8% retracements. Perhaps you can do this by trailing your stop. Personally i rather go conservative.
Stop Loss: 0.1576 (very tight)
If you like the analysis, a like will be greatly appreciated.
One day we will feast together.
Cheers.
🆓0x (ZRX) May-20 #ZRX $ZRX0.9$ and 1$ are reliable support zones that we can buy ZRX for a quick recovery up to 1.6$ and 2$ in this May.
But if it dumps again and lose the 0.9$ zone, the 0.6$ zone will be the next target
📈BUY
-Buy: 0.97-1.03$
-Buy: 0.88-0.92$. SL if B
📉SELL
-Sell: 1.56-1.64$. SL if A
-Sell: 1.95-2.05$. SL if A
♻️BACK-UP
-Sell: 0.88-0.92$ if B. SL if A
-Buy: 0.58-0.62$. SL if B
❓Details
🕯Timeframe : 1 Day
📈Red Arrow : Main Direction as BUY & SELL section
📉Blue Arrow : Back-Up Direction as BACK-UP section
🟩Green zone : Support zone as BUY section
🟥Red zone : Resistance zone as SELL section
🅰️A : The Close price of candlestick is Above the zone
🅱️B : The Close price of candlestick is Below the zone
ZRX hasn't been ready yetZRX is within a upward W-X-Y pattern (at least) which waves W and X were completed but Y hasn't been started yet.
So after completing the correction now it's within it, wave Y will be started.
But please care that I think with high probability the correction will be longer than it shows. Thus every upward movement shouldn't be considered as a uptrend.
Zrx / BtcLong term view. Currently attempting breakout from HTF resistances. Turn that resistance into support for the weekly close and it might be moon time.
I like the look of the 1.618 as a target but we'll see what happens.. I'm aware that btc is looking at breaking out of its range, with a target of $75k, that could ruin some alt setups if it does.
ZRX - 0x Price Idee and targetAfter the previous analysis which has been invalidated by BTC retracement we have a new bullish setup, let s recap the analysis:
Rsi- pretty good, arround the middle leaving space for ZRX for growing
MACD - Golden cross forming on 4H chart
3 higher highs follower by 3 higest lows confirming the bullish channel
Fibbonacci - just closed 2 candels above the 0.50 zone leaving space for the new target at 0.618 zone
Targets: 1.97 short term, probly gonna see ZRX at 2$ tomorrow 12/05
In the middle term the target for me is going to be 2.30$ then if by the end of the month we can consolidate above 2$ zone we might see a new ATH very soon
ZRXUSDT. $ZRX. Fibonacci Extensions.I mistakenly did an analysis on $OXT thinking it was $ZXT. Obviously my analysis summary is to buy. Crypto is hot right now. I shouldn't feel bad for making money off the markets.
Anyway this was a fun chance to use some fib extensions. It's not often you get to use the 2.6 and higher. Another reason crypto has been such a treat. That makes a target of 4.7. That would be ok with me.
ZRX / 0x Bullflags All RoundBullflag evident on the USD pair
Also evident on the BTC pair
Great buy opportunity for long
I dont have any targets, its a solid long term pick though