Coin of the day is 0x.
One more bottoming pattern caught the eye today. Ox token is one of the biggest growers in the 2018 year, went through a correction since our last review, but now seems to be showing positive signs of a rebound.
0x(ZRX) is an ERC20 based protocol designed to offer a decentralized exchange as part of the Ethereum blockchain. The main idea of 0x creators Will Warren and Amir Bandeali was that any use case that involves an exchange of different assets can eventually be built using 0x.
Development of DEX’s based on 0x protocol fueling growth of the coin, as 0x is one of the most popular tech providers for the Decentralized Exchanges.
Technicals
ZRXBTC downward movement found a support on May’s minimums at 0.000135 – 0.00014 levels, which coincides at this point with the 100-days EMA. Turnaround on the 100-days EMA would fit well in the growth scenario from 03.18. Crossover of the 0.00015 – 0.00016 zone and Bearish Trend Line will confirm the formation of the next Bullish wave with target 0n the 0.0002. A prolonged lateral movement in the 0.00015 – 0.00016 zone is acceptable, prior to the upward breakthrough. Negative scenario is a rebound back from the 0.00015 level and a dive below the 0.000135 support that will send the price in the deeper correctional pattern.
One more bottoming pattern caught the eye today. Ox token is one of the biggest growers in the 2018 year, went through a correction since our last review, but now seems to be showing positive signs of a rebound.
0x(ZRX) is an ERC20 based protocol designed to offer a decentralized exchange as part of the Ethereum blockchain. The main idea of 0x creators Will Warren and Amir Bandeali was that any use case that involves an exchange of different assets can eventually be built using 0x.
Development of DEX’s based on 0x protocol fueling growth of the coin, as 0x is one of the most popular tech providers for the Decentralized Exchanges.
Technicals
ZRXBTC downward movement found a support on May’s minimums at 0.000135 – 0.00014 levels, which coincides at this point with the 100-days EMA. Turnaround on the 100-days EMA would fit well in the growth scenario from 03.18. Crossover of the 0.00015 – 0.00016 zone and Bearish Trend Line will confirm the formation of the next Bullish wave with target 0n the 0.0002. A prolonged lateral movement in the 0.00015 – 0.00016 zone is acceptable, prior to the upward breakthrough. Negative scenario is a rebound back from the 0.00015 level and a dive below the 0.000135 support that will send the price in the deeper correctional pattern.
