Market Overview for 0x Protocol/Tether (ZRXUSDT) – 24-Hour Summary (2025-10-06)

• ZRX/USDT formed a key bullish reversal at 0.2488 before pushing higher, with 24h volume exceeding 2.0M USDT.
• Price tested 0.2500 multiple times, failing to break decisively before surging past 0.2570 and 0.2587.
• RSI showed bullish momentum buildup in late ET hours, pushing from oversold into neutral territory.
• Bollinger Bands tightened before the final 4-hour breakout, indicating heightened volatility.
• MACD crossed into positive territory early on, confirming a low-to-high-side trend reversal.

The 0x Protocol/Tether pair (ZRXUSDT) opened at 0.2537 on 2025-10-05 at 12:00 ET, reaching a low of 0.2488 before closing at 0.2587 at 12:00 ET the following day. The 24-hour period saw a high of 0.2589 and a low of 0.2488, with total volume traded exceeding 15.5M USDT and notional turnover reaching approximately 3.99M USDT.

The price action displayed a clear bearish-to-bullish reversal during the session. A key support level formed around 0.2488–0.2500 was tested multiple times, with the final break occurring after 14:00 ET on 2025-10-06. A bullish engulfing pattern was observed at 0.2500–0.2505, followed by a sustained rally. On the 15-minute timeframe, the 20SMA and 50SMA crossed to the bullish side, supporting the upward move.

Structure & Formations

Price formed a notable bullish reversal around 0.2500, marked by a key engulfing pattern on 2025-1006 at 14:00 ET. The pair then moved into an ascending trend, with 0.2580–0.2587 emerging as new resistance. A 15-minute doji at 0.2587 suggests a potential consolidation phase or short-term pause, with further upside likely contingent on volume confirmation.

Key Levels

- Immediate support: 0.2560
- Immediate resistance: 0.2590
- Daily pivot: 0.2545

Moving Averages

On the 15-minute chart, the 20SMA crossed above the 50SMA, forming a bullish golden cross. This reinforced the midday rally after 12:00 ET. On the daily timeframe, the 50SMA sits at ~0.2520, aligning with the support zone seen in recent sessions. The 200SMA at ~0.2480 remains a critical psychological level.

MACD & RSI

The MACD crossed into positive territory around 12:00 ET, confirming the shift in momentum. It peaked at +0.0025 by 16:00 ET before slightly retreating. RSI reached 58 by the end of the session, indicating moderate bullish momentum without reaching overbought levels. This suggests room for further gains, provided buying interest continues.

Bollinger Bands

Bollinger Bands showed a narrowing phase during the morning hours, indicating a potential breakout. Price broke above the upper band at ~0.2575, confirming increased volatility and bullish pressure. The current upper band sits at 0.2590, while the lower band is at ~0.2530, forming a key range to monitor for the next 24 hours.

Volume & Turnover

Volume increased sharply after 12:00 ET, peaking at ~121k USDT around 15:30 ET, coinciding with the final push to 0.2587. Notional turnover mirrored the volume pattern, peaking at ~250k USDT during the breakout. Price and turnover aligned during the move above 0.2570, suggesting strong conviction in the bullish thesis.

Fibonacci Retracements

Applying Fibonacci to the 0.2488–0.2587 swing, key retracement levels to watch include:- 38.2%: ~0.2545
- 61.8%: ~0.2567
- 78.6%: ~0.2579

The current price is at ~0.2587, near the 88.6% level, suggesting a potential consolidation or pullback ahead if buyers hesitate at the next resistance.

Backtest Hypothesis

A potential backtesting strategy for ZRX/USDT could involve a long bias triggered by the 15-minute bullish engulfing pattern at key support levels (~0.2500) and confirmed by a MACD crossover and rising RSI. A stop-loss could be placed below the 0.2500–0.2488 range, while a take-profit target might align with the 78.6% Fibonacci level (~0.2579). Given the breakout above 0.2580, this approach could serve as a directional bias over the next 24–48 hours, provided the volume remains elevated and the Bollinger Bands remain wide.