Market Overview for 0x Protocol/Tether (ZRXUSDT) on 2025-10-05

• 0x Protocol/Tether (ZRXUSDT) formed a bullish breakout pattern after testing key resistance around 0.2522 and 0.2543.
• Momentum picked up after 03:00 ET as RSI crossed above 50 and MACD turned positive.
• Volatility expanded significantly during the 24-hour period, with Bollinger Bands widening and price reaching 0.2597.
• Turnover reached 42.5 million ZRX, with 15-minute volume spiking over 140k at 13:45 ET and 14:00 ET.
• Price action showed a consolidation phase from 09:45 ET onward, with Fibonacci levels at 0.2554 and 0.2540 acting as near-term support.

24-Hour Summary

At 12:00 ET–1, 0x Protocol/Tether (ZRXUSDT) opened at 0.2464 and closed at 0.2544 by 12:00 ET, forming a positive 24-hour candle. The pair traded between 0.2462 and 0.2597, with total volume reaching 4,161,700 ZRX and turnover of approximately $1,056,955. The price action showed strong conviction on the upside, especially after 03:00 ET, with clear signs of trend continuation and momentum buildup.

Structure & Formations

Price tested a key resistance level at 0.2522 during the early hours and broke out with strong volume. A bullish engulfing pattern was observed around 03:00–03:15 ET, confirming a shift in sentiment. Key support levels at 0.2530 and 0.2512 held during the consolidation phase, preventing a pullback from earlier highs. A doji formed near 0.2543 at 10:00 ET, suggesting short-term indecision, but price resumed its upward trajectory shortly afterward.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed in a golden cross around 04:00 ET, supporting the bullish bias. The price remained above both lines for most of the session. On the daily timeframe, the 50-day and 200-day moving averages remained well below current levels, indicating the asset is in an uptrend on a longer horizon.

Momentum Indicators

The RSI crossed above 50 at 03:00 ET and surged toward 60, indicating growing bullish momentum. MACD turned positive around the same time and formed a bullish histogram, reinforcing the upward bias. However, by 10:00 ET, RSI dipped toward 50 again as the pair consolidated, suggesting a possible pause in the rally rather than a reversal.

Volatility and Volume

Bollinger Bands widened significantly as the price surged past 0.2543, with the high of 0.2597 breaching the upper band. This volatility expansion signals heightened trading activity and potential continuation. Volume spiked to over 140,000 ZRX at 13:45 and 14:00 ET, coinciding with key retracement levels, and remained above average for the rest of the day. Notional turnover closely followed price highs, indicating strong conviction in the move higher.

Fibonacci Retracements

Fibonacci levels drawn from the swing high at 0.2597 and the low at 0.2462 showed key retracement levels at 0.2548 (38.2%) and 0.2515 (61.8%). The 0.2544 close came within range of the 38.2% level, indicating a potential consolidation zone. These levels will be key to watch in the next 24 hours as the price may retest them for direction.

Backtest Hypothesis

Given the strong 15-minute bullish breakout pattern and confirmation from both MACD and RSI, a backtesting strategy based on golden cross (20/50 MA) and RSI above 50 could be effective for short-term entries. A potential entry could occur after a retest of the 0.2543–0.2548 Fibonacci level, with a stop-loss placed below 0.2512. The target for a breakout move could be set at 0.2576 or 0.2597, depending on whether the trend continues or corrects.