🔥 Right now $ZRX the trend feels strongly bullish, but it's pulling back a bit after getting way overbought. You know how these things go; sometimes the market needs a breather.
First off, the volume tells a big story. There was this massive spike – we're talking 263 million compared to the usual 5 million or so. To me, that screams institutional money jumping in. But lately, volumes have been tapering off, which makes me think the buying frenzy is starting to fizzle out.
On capital flows, spot markets show steady inflows over the past week (+428K USDT), pointing to some real underlying interest from holders. Perps are more mixed though – huge outflows in the 4-hour window (-2.32M USDT) suggest folks are cashing in profits, but then you see inflows on 6-hour and 8-hour frames. It's like the positions are flipping around, super volatile.
Looking at the price action, that 24-hour surge from 0.1274 up to 0.1686 (about 32.3%) felt like a total breakout driven by FOMO. The latest 1-hour candle is kinda meh – small body hanging near the highs after bouncing off the upper Bollinger Band. I've got my eye on support around 0.1407 (that's S1 support) lining up with the 20-period MA at 0.1410. Solid spot to watch.
Overall, I'm cautiously bullish $ZRX here – probably best to wait for a dip before jumping in
For entry, I'd aim for a pullback to 0.142-0.145 where that MA20 and S1 support meet up. If you're feeling aggressive, wait for a break over 0.1656 (upper Bollinger) backed by at least 20M volume per hour.
Set your stop-loss about 3.5% below entry – around 0.137 if you're going conservative, or 0.16 for the breakout setup
Targets $ZRX : Primary at 0.1749 (Resistance) and secondary up at 0.1889 (next resistance).
Is ZRX ready for another leg up, or is this correction gonna drag on? #ZRX #ZRXUSDT #0XPROTOCOL