- ZRX/USD market’s attempt to the up on July 8, has now reversed being a slightly bearish trend.
- Investors may now venture into the crypto-market, but traders going short should be wary of further violent price move to the south.
ZRX/USD Long-term Trend – Bearish
- Distribution territories: $0.35, $0.40, $0.45
- Accumulation territories: $0.20, $0.15, $0.10
On July 8, the ZRX market made a futile price move against the SMA trading indicators to average its last $0.35 upper range point. The move has now reversed being a slightly bearish trend to the south below the two indicators.
The 50-day SMA is located over the 14-day SMA. And, they appear pointing to the south direction. Price has been trading at a low value of around $0.25 mark. The Stochastic oscillators have closed the hairs tightly at range 20. That could lead to a consolidation movement.
Without doubt, the ZRX/USD market has been in depressions quite a while. And, the bears have almost driven the crypto’s value beyond one of its lowest trading zone at $0.25 point. Presently, it seems that it would take a while before this crypto-market sees a decent buy signal. Reason being that it would be necessary for the pair to find a foundation that price spot of the market. At this point of trading, traders should be wary of further violent price move to the south. But, investors may now decide to venture into it.
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