ZRX Is Listed on Coinbase Pro - 40% Gain over the Bitcoin

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On the 11th of October, Coinbase has announced that ZRX token will be listed on the Coinbase Pro, although it is not yet available on the Coinbase.com website, Android apps and Coinbase iOS.

Market reaction to the announcement was extremely positive, and yesterday 0X has gained nearly 40% against the Bitcoin. Price has risen from 10440, up to 14550 satoshis, where it found the resistance in form of 561.8% Fibonacci retracement level. The resistance has been rejected cleanly and price dropped down fast.

Currently, ZRX/BTC is trading at 361.8% Fibonacci support, which was also rejected today, along with the upper trendline of the ascending channel . At this stage, there are no signs of a stronger correction to the downside. Quite the opposite, as the support is holding and the RSI rejecting the uptrend trendline, the upside momentum might get even more traction.

With the current price setup, ZRX is expected to move up again towards the 14.5k or even 16.8k satoshis resistance. Price might produce spikes below the 11730 satoshis level, but only close below that price would invalidate bullish outlook. In this scenario, the downside pressure would increase and price could drop down to 161.8% Fib support near 10k psychological support.

Support:

1. 0.000120
2. 0.000100

Resistance:

1. 0.000145
2. 0.000168

Comment: Support is broken

Comment: First upside target reached and broken

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Disclaimer: This report is originally posted on TradingView and is for educational and informational purpose only. This post does not constitute an endorsement, recommendation, or offer to sell. Please be guided accordingly.

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