Market Overview for 0x Protocol/Tether (ZRXUSDT) on 2025-09-15

• ZRXUSDT dropped 7.8% over 24 hours amid bearish price action and weakening momentum.
• Key support tested near $0.263–0.264; RSI hit oversold territory but failed to trigger a strong rebound.
• Bollinger Band contraction observed mid-day, followed by a sharp break to the downside.
• Volume spiked during the selloff, with turnover exceeding $420k on the decline.
• A potential short-term bottom may form if price stabilizes above $0.262.

At 12:00 ET–1 on 2025-09-14, ZRXUSDT opened at $0.2736, surged to a high of $0.2775, and plummeted to a low of $0.2618, closing at $0.2643 on 2025-09-15. Total volume across 24 hours was 2,418,517 ZRX, with notional turnover reaching $652,663.

Structure & Formations

ZRXUSDT experienced a sharp selloff from mid-ET on 2025-09-14, forming a bearish engulfing pattern as price gapped down and closed near the session low. A key support level emerged at $0.263–0.264, where the price consolidated briefly but failed to rebound decisively. A long lower wick at $0.2624 suggests some short-term buying pressure, though it remains unconfirmed.

Moving Averages

On the 15-minute chart, the 20-period MA acted as resistance in the morning, while the 50-period MA descended below the 20-period line, signaling bearish momentum. Daily MAs (50, 100, 200) all trended downward, reinforcing the short-to-medium-term bearish bias.

MACD & RSI

The MACD crossed below the signal line around 07:00 ET on 2025-09-15, confirming bearish momentum. RSI dropped into oversold territory near 28 but did not trigger a reversal, suggesting a lack of buyers at lower levels. A potential divergence was observed at 03:45 ET, but it failed to develop into a bullish signal.

Bollinger Bands

Bollinger Bands experienced a contraction between 03:30 ET and 07:30 ET, followed by a sharp downward break. Price closed below the lower band at $0.2643, indicating heightened volatility and bearish sentiment.

Volume & Turnover

Trading volume surged during the 08:00–10:00 ET window as price dropped from $0.268 to $0.2624, reflecting increased selling pressure. Turnover expanded in line with the price decline, with no significant divergence observed between volume and price.

Fibonacci Retracements

The 0.618 Fibonacci level at $0.2642 aligned closely with price action, where ZRXUSDT consolidated briefly before continuing its descent. The 0.382 level at $0.268–0.269 had earlier failed to hold buyers, suggesting a continuation of the downtrend.

Backtest Hypothesis

A potential backtesting strategy could involve shorting on a break below the 0.618 Fibonacci level with a stop above the 0.382 level. This would align with the observed bearish momentum and key Fibonacci support. Given the RSI’s oversold readings without a reversal, it may also be prudent to delay entry until price breaks the Bollinger Band to the downside. A trailing stop could be used as price stabilizes above $0.262.

The price of ZRXUSDT may find a temporary floor above $0.262, but a break below this level could trigger further declines toward $0.258. Investors should monitor volume and Fibonacci levels for confirmation of a potential short-term bottom. A bullish reversal would require a strong rebound above $0.273–0.274 with high volume and RSI divergence.