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- 1 ZRX crypto is toppling resistance levels, soaring to new zeniths from the current base zone.
- 2 The ZRX price chart is showing bullish behavior and is expected to rise further.
0x is an infrastructure protocol for permissionless trading of a range of assets, including fungible (ERC20) and non-fungible (ERC-723) tokens.
This means it can be used for different applications, such as marketplaces for digital goods and services, OTC trading desks, exchange functionality for DeFi protocols and simple decentralized exchanges.
The 0x protocol can be used to build highly flexible exchange products, but it can also be embedded into products where asset exchange is not the main feature — such as for in-game purchases and portfolio management platforms.
On the 0x protocol, liquidity takers pay a fee in ZRX tokens — this fee is used to reward market maker (relayer) liquidity. Users also need to pay a protocol fee in Ether (ETH), which is used to pay for the gas used in any transactions they complete.
As an open-source protocol, 0x does not earn any share of this revenue, and is instead supported by ZRX tokens unlocked as team and developer incentives — along with its initial ICO funding.
0x is built on the Ethereum blockchain. As a result, it is secured by the combined efforts of the huge Ethereum miner and node network.
As for the underlying smart contracts, version 3 of the protocol has been audited by several third party firms which checked for any underlying vulnerabilities, backdoors and redundant functions, including ConsenSys Diligence — no major issues were found.
However, a vulnerability was found and discovered in the v2.0 smart contract, which was later fixed and rectified by the 0x core team.
This vulnerability was found by an independent researcher and was not exploited. 0x continues to run a generous bug bounty, to help find and fix any issues before they can be exploited.
Technical Evaluation of 0x (ZRX) on Daily Chart
The ZRX crypto surged by 1.15% in the last 24 hours, and the asset is currently trading at $0.418. The crypto is ready for a sensational surge, as it unleashes potential to topple the resistance level and soar to new zeniths from the current base zone.
However, if the demand for the ZRX Token remains high, the asset price could bounce back from the current level. The next goal for the ZRX price is to reach $0.50000.
The ZRX asset is expressing bullish behavior and has the opportunity to increase further. It showed good performance last week, last month, and over the last three months, by 139.89%, 49.423%, and 9.47% respectively, implying a stable upward direction.
The ZRX crypto asset is displaying bullishness and rising potential as it stays above major EMAs.
The ZRX asset is exhibiting bullish performance and the RSI is not close to the 70 level, meaning that the asset is not facing significant selling pressure and will continue to rise.
However, if the ZRX crypto price fails to stay above the $0.35000 level, it could decline further.
Summary
The ZRX crypto is ready for a sensational surge, as it unleashes potential to topple the resistance level and soar to new zeniths from the current base zone.
The ZRX asset is exhibiting bullish performance and that the RSI is not close to the 70 level. This means that the asset is not facing significant selling pressure and could continue to rise. The bullishness has kept ZRX above key EMAs.
Technical Levels
Support Levels: $0.35000
Resistance Levels: $0.50000
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
