0x Protocol/Tether (ZRXUSDT) Market Overview

• ZRXUSDT traded in a 24-hour range of $0.1878–$0.2091, closing near the upper end after a sharp late rally.
• Momentum accelerated in the last 3–4 hours of the period, with RSI surging into overbought territory.
• Volatility expanded significantly during the final 15-minute candles, as Bollinger Bands widened.
• Volume surged past 2.2M on the final bullish candle, confirming strength in the upward move.
• A potential short-term support level appears near $0.1970, with resistance forming above $0.2060.

0x Protocol/Tether (ZRXUSDT) opened at $0.1983 on 2025-10-11 at 12:00 ET, reaching a high of $0.2091 and a low of $0.1878, closing at $0.2088 as of 12:00 ET on 2025-10-12. Total volume for the period was 221,624, while notional turnover reached approximately $44.7 million, indicating heightened activity during the final hours of the period.

Structure and formations over the 24-hour period revealed a key support zone near $0.1970–$0.1980, which held during several pullbacks. A notable bullish engulfing pattern emerged during the final 3 hours of trading, confirming a reversal from a short-term downtrend. A doji candle formed near $0.1959, suggesting indecision after the initial decline. Resistance appears to be forming between $0.2050 and $0.2070, a region where price action paused twice before surging higher.

Moving averages on the 15-minute chart showed ZRXUSDT closing above both the 20EMA and 50EMA, suggesting a short-term bullish bias. On a larger scale, the 50/100/200 SMA structure has been flattening, with the 50SMA showing a slight upward drift—indicating a possible re-entry into a longer-term accumulation phase.

MACD turned positive in the last 3 hours and showed divergence from the price action during the early part of the period. RSI surged into overbought territory after the final rally, suggesting possible exhaustion in the upward momentum. Bollinger Bands expanded significantly during the final 60 minutes, indicating a breakout in progress. Price closed near the upper band, reinforcing the bullish setup.

Volume and turnover spiked sharply on the final 15-minute candle, with over 220,000 contracts traded as price surged from $0.2055 to $0.2088. This volume level was nearly double the previous few hours’ activity, confirming the move. A divergence in the earlier part of the day showed high turnover with minimal price movement, pointing to possible accumulation before the final breakout.

Fibonacci retracements applied to the major 15-minute swing from $0.1970 to $0.2091 identified key levels at 61.8% ($0.2042) and 78.6% ($0.2080), both of which were tested and surpassed. Daily retracements from the broader range showed 61.8% at $0.1996, a level that held as a minor support early in the session.