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Market Analysis

ZRX Technical Analysis – Another target perfectly achieved

February 5th 2020, ZRX/USD was trading at $0.25. We released a technical report stating that price found support at $0.223 and the next swing target is the [$0.36-$0.40] liquidity area. Price peaked yesterday at $0.364 perfectly achieving the lower limit of that area.

Where is price now? As the market retraced, so did ZRX as it approached resistance. Considering the market’s bullish momentum, there is a good chance for the aforementioned liquidity area to be crossed as buyers step in.

If crossed, then ZRX could rally towards $0.46, followed by ~$0.50 and $0.6455. Each new level will need to be crossed with confirmation in order for the next to be achieved.

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