Solana

Resistance

Polygon

ERC20

Coin

<ul class="list-ic vertical">
 <li><span>1</span> <a>ZRX whales were rapidly building long positions in ZRX as reported by Hyblock.</a></li>
 <li><span>2</span> <a>the bulls in the ZRX coin has pushed past major reistsnace levels of last year.</a></li>
 <li><span>3</span> <a>The protocol has facilitated over $200 billion in trading volume since its inception.</a></li>
</ul>
<p>The value of the ZRX token has surged by approximately 29% over the last month, reaching a yearly high of $0.50 as of press time, according to BeInCrypto data. Santiment, a prominent crypto analytical firm, attributed this impressive price rally to whale transactions. The firm reported that whale transactions for the crypto tokens are at an 18-month high and older coins are returning to circulation.&nbsp;</p>
<h2 class="wp-block-heading" id="strong-whales-in-zrx-strong"><strong>Whales in ZRX</strong></h2>
<p>Hyblock, a crypto trading platform, further corroborated a report pointing out ZRX. The report stated that in ZRX whales were rapidly building long positions relative to retail.&nbsp;</p>
<p>The ZRX token is driven by the 0x Protocol, which is a decentralized exchange infrastructure protocol. It allows users to trade ERC20 tokens and other digital assets across various blockchain networks, including Ethereum.&nbsp;</p>
<p>The protocol eliminates the need for centralized intermediaries, and ZRX holders engage in governance activities. In addition. They have access to the project’s communal treasury.&nbsp; The protocol has facilitated over $200 billion in trading volume since its inception. In April, the developers of 0x Labs announced that the project’s governance would transition to the community to enable it to flourish.&nbsp;</p>
<h3 class="wp-block-heading" id="strong-the-major-drivers-strong"><strong>The Major Drivers</strong></h3>
<p>The crypto market is driven by institutional and whale demand, who are scooping up major digital assets. Blockchain data aggregator ‘IntoTheBlock’ posited that institutional and whale demand has picked up strongly. Major cryptos like Bitcoin is seeing an 80% increase in the volume of transactions over $100,000. Similarly other famous cryptos also shoed growth, Ethereum 170%, and Polygon over 3,800%&nbsp;</p>
<h2 class="wp-block-heading" id="strong-technical-analysis-and-prediction-of-the-zrx-coin-price-strong"><strong>Technical Analysis and Prediction of the ZRX Coin Price&nbsp;</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img loading="lazy" decoding="async" width="1600" height="763" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-364.png" alt="ZRX Coin Analysis: ZRX whales are rapidly stacking long positions" class="wp-image-184111" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-364.png 1600w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-364-300x143.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-364-1024x488.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-364-768x366.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-364-1536x732.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-364-750x358.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-364-1140x544.png 1140w" sizes="(max-width: 1600px) 100vw, 1600px">
  <figcaption class="wp-element-caption">
   ZRX/USDT chart by <a href="https://in.tradingview.com/chart/X78t0Vyp/?symbol=BINANCE%3AZRXUSDT" rel="noopener noreferrer nofollow">TradingView</a> (Daily time frame)
  </figcaption>
 </figure>
</div>
<p>The crypto market has gained attention recently due to the possibility of a Bitcoin ETF, causing top digital assets like Bitcoin, Ethereum, and Solana to reach new yearly highs. This surge has benefited the bulls in the ZRX coin to push past primary resistance levels.&nbsp;</p>
<p>The immediate support level at $0.3686 provides a strong demand zone for the bulls. The following support level is at $0.3037. Similarly, the bears can get a hold of the ZRX <a href="https://www.thecoinrepublic.com/2023/11/17/osmo-coin-bulls-are-confronting-bears-at-the-resistance-level/" target="_blank" rel="noopener noreferrer nofollow">coin price</a> at the resistance levels of $0.450 and $0.522.&nbsp;</p>
<div class="wp-block-image">
 <figure class="aligncenter"><img loading="lazy" decoding="async" width="1600" height="441" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-363.png" alt="ZRX Coin Analysis: ZRX whales are rapidly stacking long positions" class="wp-image-184110" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-363.png 1600w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-363-300x83.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-363-1024x282.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-363-768x212.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-363-1536x423.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-363-750x207.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-363-1140x314.png 1140w" sizes="(max-width: 1600px) 100vw, 1600px">
 </figure>
</div>
<p>However, one of the significant things is that the last three days’ candles were bearish, and the immediate support could be broken. if the immediate support breaks, then the coin will reach the 2nd support level of $0.3037</p>
<h4 class="wp-block-heading"><strong>Conclusion</strong>&nbsp;</h4>
<p>Over the past several weeks, the crypto market has faced increased interests. The crypto market is driven by institutional and whale demand. The ZRX token is driven by the 0x Protocol, which is a decentralized exchange infrastructure protocol. The current trend is up but there is a possibility of a support break</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<ul>
 <li><strong>Support Levels:</strong> $0.3686 and $0.3037</li>
 <li><strong>Resistance Levels:</strong> $0.450 and $0.522.</li>
</ul>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks, cryptos or related indexes comes with a risk of financial loss.</p>

ZRX Coin Analysis: ZRX whales are rapidly stacking long positions

Table of Contents

Thecoinrepublic.com

Other articles published on Dec 13, 2023

Shibarium Readies for $1 Million Shiba Inu Burn as Official Reveals Intriguing SHIB Burn Details

Three Arrows Capital: Su Zhu Grilled in Singapore Court

Breaking: Crypto Community To Witness a New Euro-Denominated Stablecoin

Bitcoin’s Price Drops Despite SEC Meetings On ETF Approvals

Full List of Bitcoin ETFs Waiting Approval in January 2024 and Deadlines

Analyst Bluntz Predicts Massive Rally for Sui

Join our free newsletter for daily crypto updates!