Market Overview for ZRX/USDT on 2026-01-09

Summary
• ZRX/USDT saw a 5.1% recovery from 0.1394 to 0.1430 amid increased volume near 14:00 ET.
• Key resistance at 0.1430–0.1432 was tested twice but not decisively breached.
• MACD turned bullish and RSI moved into overbought territory, suggesting potential for near-term correction.
• Volatility expanded midday, as seen in Bollinger Band width and price range.
• A bearish divergence in RSI suggests caution ahead, though volume remains supportive of bullish continuation.

0x Protocol/Tether (ZRX/USDT) opened at 0.1407, reached a high of 0.1447, a low of 0.1384, and closed at 0.1430 at 12:00 ET. The 24-hour volume amounted to 1.96 million ZRX, with a notional turnover of $27,789.

Structure & Formations

The price displayed a clear bullish trend midday, forming a key bullish pattern near 0.1430 in the form of a green candlestick with a long upper wick, indicating rejection of higher levels. Key support appeared at 0.1407, where the price consolidated for much of the session. A bearish divergence on the RSI at the close suggests a potential pullback may be in play in the near term.

Moving Averages

On the 5-minute chart, the price remained above the 20 and 50-period moving averages for most of the day, reinforcing the bullish bias. The 50-period line acted as a support level in early afternoon trading, with the 100 and 200-period lines on the daily chart also showing bullish alignment.

MACD & RSI

The MACD crossed above the signal line in the morning, confirming momentum to the upside. RSI peaked near 70, entering overbought territory and signaling a potential pause or correction. However, strong volume during the upward push suggests that the bullish momentum may not dissipate immediately.

Bollinger Bands

Volatility increased significantly in the midday and afternoon session, as evidenced by the widening of the Bollinger Bands. The price hovered near the upper band during this period, indicating strong bullish pressure. A contraction could follow, setting up for a potential breakout.

Volume & Turnover

The largest volume spike occurred around 16:15–16:30 ET, coinciding with a strong rally from 0.1429 to 0.1447. Turnover increased by over 50% during this period, confirming the strength of the bullish move. However, a divergence between price and RSI suggests that volume may not fully support a breakout above 0.1432 in the near term.

Fibonacci Retracements

Recent 5-minute swings showed key Fibonacci levels at 0.1422 (61.8%) and 0.1434 (78.6%), with the price testing both before consolidating. On the daily chart, a retracement of the 0.1384 to 0.1447 move suggests critical levels at 0.1417 and 0.1430 for near-term action.

The market may remain range-bound or attempt another push above 0.1432 in the next 24 hours, but investors should watch for bearish divergence in RSI and potential volume weakness. A break below 0.1407 could trigger a retest of the key 0.1394 support level.