/* custom css */
.td_uid_1_5da2ea35d473d_rand {
min-height: 0;
}
/* custom css */
.td_uid_2_5da2ea35d4b88_rand {
vertical-align: baseline;
}
ZRX is bearish in the short-term with the ZRX / USD pair posting fresh all-time lows
ZRX / USD has recently fallen below the neckline of a head and shoulders pattern and looks set to extend its recent losses
Medium-term picture is also bearish with price trapped inside a large falling wedge pattern
ZRX / USD Short-term price analysis
In the short-term, ZRX is bearish and looks set to extend its recent losses. The ZRX / USD pair is posting record all-time lows, while also trading beneath the neckline of a large head and shoulders pattern.
Buyers have twice failed to bring price back above the neckline of the bearish head and shoulders pattern, further highlighting the potential for short-term weakness in the ZRX / USD pair.
Technical indicators also show that the next down move is ready to commence, with both the Stochastic and MACD indicators on the four-hour time frame primed for a move lower.
Pattern Watch
The bearish head and shoulders pattern is the overwhelming theme on the four-hour time frame chart, a failed inverted head and shoulders pattern can also be seen.
ZRX / USD H4 Chart (Source: TradingView)
MACD Indicator
The MACD indicator has corrected higher, and is starting to trend lower, in line with the recent down move. It is also worth noting that selling activity may pick up once the signal line crosses over and the MACD histogram moves below the zero line.
Stochastic
The Stochastic indicator on the four-hour time frame has corrected higher and is starting to turn, the indicator also shows plenty of scope to trade lower.
ZRX / USD Medium-term price analysis
ZRX is bearish in the medium-term, with the daily time frame chart showing price trapped inside a large falling wedge pattern.
After recently failing to break above the well-defined wedge pattern, sellers are now starting to take control of price-action, sending the ZRX / USD pair to a fresh all-time trading low.
In line with the prevailing theme of overall weakness, ZRX is likely to fall towards the bottom of the falling wedge pattern in the medium-term.
Falling wedge patterns are statistically bullish, so the ZRX / USD pair should be closely watched for any bullish signals if a top-side breakout were to occur.
ZRX / USD Daily Chart (Source: TradingView)
Pattern Watch
Aside from the falling wedge pattern on the daily time frame, the November 2018 decline seen in the ZRX / USD pair has triggered a series of bearish head and shoulders patterns.
RSI + MACD Indicators
The RSI indicator is turning bearish and shows the emergence of a failed inverted head and shoulders pattern. The MACD indicator is also starting to turn lower, although the MACD signal line is currently neutral and awaiting a definitive breakout in the ZRX / USD pair.
Conclusion
ZRX is overwhelmingly one of the most bearish cryptocurrencies among the top 30. In the short-term, another decline appears imminent. In the medium-term the huge falling wedge-pattern is dominating the trading action, range-bound trading action will likely occur if the ZRX / USD pair survives a test of trendline support, as seen on the daily time frame.
0x Chart
Chart byCryptoCompare #ccpw-ticker-24527 .ccc-chart-header { background: #1c71ff} #ccpw-ticker-24527 #ccc-chart-block .exportBtnTop, #ccpw-ticker-24527 a.tabperiods.tabperiods_active, #ccpw-ticker-24527 .coin_details { color: #1c71ff; background: rgba(28,113,255,0.15); } #ccpw-ticker-24527 .coin_details { border: 1px solid rgba(28,113,255,0.16); } .ccpw-container_chart #ccpw-ticker-24527 .coin-container:after, .ccpw-container_four #ccpw-ticker-24527 .coin-container:after {border-color:#ccc !Important;}
Decentral Media, Inc., the publisher of Crypto Briefing, is not an investment advisor and does not offer or provide investment advice or other financial advice. Nothing on this website constitutes, or should be relied on as, investment advice or financial advice of any kind. Specifically, none of the information on this website constitutes, or should be relied on as, a suggestion, offer, or other solicitation to engage in, or refrain from engaging in, any purchase, sale, or any other any investment-related activity with respect to any transaction. You should never make an investment decision on an investment based solely on the information on our website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an investment.
Comments