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…