Market Overview for 0x Protocol/Tether (ZRXUSDT) on 2025-12-06

Summary
• Price formed a bullish engulfing pattern near 0.1420 before rebounding.
• Volatility expanded in late ET hours, with high volume near the 24-hour high.
• RSI showed no overbought or oversold extremes but indicated mild bullish momentum.
• Price tested and bounced from a key 0.1417 support level.

Price and Volume at a Glance

At 12:00 ET-1, 0x Protocol/Tether (ZRXUSDT) opened at 0.1431, and over the next 24 hours, it traded between 0.1407 and 0.1456 before closing at 0.1442. The total traded volume was 1,125,877 ZRX, with a notional turnover of approximately $160,647.

Structure & Formations

The price action featured a 20SMA and 50SMA were closely aligned, supporting a sideways-to-bullish bias. The 12:00 ET close was above both, suggesting a potential short-term uptrend. The MACD showed a narrowing histogram, indicating waning momentum after the late ET rally. The RSI remained in a neutral range (55-60), avoiding overbought conditions.

Moving Averages and Momentum

On the 5-minute chart, the 20SMA and 50SMA were closely aligned, supporting a sideways-to-bullish bias. The 12:00 ET close was above both, suggesting a potential short-term uptrend. The MACD showed a narrowing histogram, indicating waning momentum after the late ET rally. The RSI remained in a neutral range (55-60), avoiding overbought conditions.

Volatility and Bollinger Bands

Bollinger Bands expanded in the final hours of the 24-hour window, reflecting higher volatility. Price traded near the upper band at the close, suggesting a potential short-term extension of the bullish trend, although caution is warranted.

Volume and Turnover

Volume spiked near the high of 0.1456, with over 54,675 ZRX traded in a single 5-minute interval. Turnover aligned with the price action, showing no divergence. The largest single-candle turnover occurred at 03:15 ET, supporting the 0.1451 level.

Fibonacci Retracements

Key retracement levels of the morning pullback showed support at 0.1420 (38.2%) and 0.1417 (61.8%). The afternoon rally to 0.1456 aligned with the 0.1443–0.1451 Fibonacci extensions, suggesting possible resistance ahead.

The late ET rally appears to have established a near-term bullish tone, with price finding support at key levels and volume confirming the move. However, the expansion of Bollinger Bands indicates increased volatility, and a breakdown below 0.1436 could shift the outlook. Investors should remain cautious of potential profit-taking or consolidation over the next 24 hours.