- ZRX/USD market has now been ranging around three important market’s lines observed at $0.30, $0.35 and $0.40 marks respectively.
- The bulls need to sustain their momentum beyond the $0.40 upper range point to be in control of the trade.
ZRX/USD Long-term Trend – Ranging
- Distribution territories: $0.45, $0.50, $0.55
- Accumulation territories: $0.25, $0.20, $0.15
Most of the Japanese trading candlesticks formed about a week back during the trading sessions of the ZRX/USD market are features of higher highs and higher lows. The formation of the range price movements has dominated around $0.35 horizontal mark until the present. The SMA trading indicators are as well closely located trending towards the east direction.
Precisely, the 14-day SMA is a bit located over the 50-day SMA. And, they are both found not too far above $0.30 mark which has now been taken as the actual lower range line. The upper range line is located at $0.40 mark. The Stochastic Oscillators have wittingly touched range 60. That still suggests an on-going choppy market movement of the crypto-market.
It needs to be stated that three main range lines are now involved in the ZRX/USD market’s current ranging trend. At the current upper range line of this market, there are forces awaiting any further movements to the north. Therefore, the bulls need to sustain their momentum beyond the point if they will have to be in control of the trade.
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