ZRX has a clear descending triangle . The one hour chart shows several key bearish candlestick patters, most recently a hanging man candle stick. There is resistance around 0.36, however looking on the day chart, the RSI is completely maxed out around 80 at the time of writing this. It is certainly possible we retest the 0.50 cent area, on the 1 week chart there is major resistance around 0.55 cents.
Please do not trade based on this information. What do you guys think about ZRX?
Thanks, - Max K.
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Looking again at the day chart, we are approaching the downward channel that is visible in my last long analysis on ZRX, this will be a point of support for the bulls, this is around 0.30 cents.
@cyburgh, Thanks, did not play out exactly as I thought but we will see.
Susie004
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there are a lot of shorts on ZRXUSDS - I think she goes up
MaxKoke
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@susieessie, we will see 👍🏻
Bimbo_Chart
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All depends from BTC, if the lady keeps going down zrx will follow and destroy all this run.. hope actual level hold
MaxKoke
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@Alex_B1M, If you check out my analysis on BTC there is a similar tone, we are right on a heavy support zone in BTC, if that breaks we will test the 7000s.
CryptoSarkaar
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is there a possibility that it breaks the 0.49 resistance??
MaxKoke
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@neatsarkaar, absolutely, anything can happen. It is also very possible it breaks the downward resistance. I am just waiting it out because really it could move in either extreme. I will say that because of how extremely high the RSI is, that is unlikely that a move above 0.49 will hold but again who am I to say. Only time will tell!