Market Overview for 0x Protocol/Tether (ZRXUSDT) on 2025-11-05

• ZRXUSDT closed at 0.1870 with a 24-hour low of 0.1757 and high of 0.1966.
• Momentum dipped in the latter half of the session, with RSI hovering around 50.
• Volatility expanded during the 18:00–20:00 ET window, with a sharp price rebound.
• Key support levels appear at 0.1850 and 0.1820.
• Notable volume spikes occurred during the 19:00–20:00 ET and 22:00–23:00 ET sessions.

ZRXUSDT opened at 0.1815 on 2025-11-04 at 12:00 ET, reached a high of 0.1966, fell to a low of 0.1757, and closed at 0.1870 on 2025-11-05 at 12:00 ET. Total volume was 40,521,643.0 and turnover amounted to $7,417,634.00 over the 24-hour period. The 15-minute OHLCV data indicates a volatile trading session with multiple price reversals.

Structure & Formations

The price structure for ZRXUSDT showed a clear short-term bearish breakdown early in the session, followed by a recovery phase starting from 18:30 ET. A notable bullish engulfing pattern formed around 22:45 ET as prices rebounded from the day’s low of 0.1757 to a high of 0.1935. The 0.1850 and 0.1820 levels have served as recurring support zones, suggesting strong internal resistance and potential accumulation activity.

Moving Averages and Momentum

On the 15-minute chart, the 20-period and 50-period moving averages converged around 0.1865–0.1870 by 05:00 ET, with the 20-period line crossing above the 50-period, signaling a potential bullish crossover. RSI hovered near neutral territory (48–52), indicating balanced momentum. MACD remained positive for most of the session, but a bearish crossover occurred after 08:00 ET, which may have preceded a slight consolidation phase.

Bollinger Bands and Volatility

Volatility expanded significantly from 18:30 to 20:00 ET as the price moved between the upper and lower bands, confirming high-intensity trading. The price retested the lower band multiple times before breaking through with volume confirmation. By midday on 2025-11-05, the bands had contracted, suggesting a potential period of consolidation ahead.

Volume and Turnover

Volume spiked at 18:30–19:30 ET and again at 22:30–23:30 ET, with the latter occurring alongside a strong price rebound. Turnover mirrored volume behavior, showing the most liquidity during the 18:30–20:00 ET and 22:30–23:30 ET windows. Divergences were observed around 04:00 ET, where price rose but volume declined, suggesting possible short-term profit-taking.

Fibonacci Retracements

Fibonacci levels derived from the 0.1757 low and 0.1966 high showed key retracements at 0.1865 (38.2%) and 0.1912 (23.6%). The 0.1850 level coincided with the 50% retracement, reinforcing its role as a critical support. Prices stalled briefly around these levels before continuing the upward trend, suggesting a strong short-term bullish bias.

Backtest Hypothesis

The observed Bullish Engulfing pattern around 22:45 ET, accompanied by a volume surge and a breakout above the 0.1865 level, could be used as a candidate entry signal for a short-term long strategy. A backtest could simulate a trade entering on the confirmation of the pattern and exiting three days later. Given the 15-minute granularity and the 24-hour context, this pattern may serve as a reliable trigger for traders following a momentum-based strategy. However, the absence of historical pattern data highlights the need for more systematic tracking of such formations in future backtests.