ZRXUSDT Breakout Gains Steam as Volume and RSI Align for Push

Summary
• Price formed a bullish engulfing pattern near 0.1062–0.1083 with a 0.1132–0.1146 breakout confirmation.
• Momentum accelerated past key 0.1125–0.1131 resistance, with RSI showing strong upward bias.
• Volatility expanded post-breakout as price traded between 0.1123 and 0.1146, with high turnover at 0.1135–0.1142.
• On-balance volume surged in the final 6 hours, with turnover increasing 15% after 08:00 ET.

0x Protocol/Tether (ZRXUSDT) opened at 0.1077 on 2026-02-20 12:00 ET and closed at 0.1139 by 2026-02-21 12:00 ET, with a high of 0.1146 and a low of 0.1062. Total volume for the 24-hour period was 3,886,311.0, with notional turnover of 423,038.00.

Structure and Trend Confirmation

The price formed a classic bullish engulfing pattern in the early hours of 2026-02-20, breaking below 0.1083 and then rallying back above 0.1080 in subsequent 5-minute candles. This set the stage for a larger bullish reversal, as the asset then trended higher through key resistance levels. A breakout above 0.1131 on the morning of 2026-02-21 was confirmed by a strong candle closing near 0.1142.

Moving Averages and Momentum

The 20-period and 50-period moving averages on the 5-minute chart were closely aligned below the price action, confirming a strong uptrend. MACD showed a bullish crossover with positive histogram expansion after 06:00 ET, while RSI climbed above 60 and stayed near 65, suggesting continued upside potential.

Volatility and Bollinger Band Behavior

Bollinger Bands expanded during the breakout phase, with price action consistently trading above the midline and near the upper band from 08:00 ET onward. This expansion indicates increasing volatility and bullish conviction.

Volume and Turnover Correlation

Volume surged in the final 6 hours of the 24-hour window, especially between 08:00 and 12:00 ET, coinciding with the 0.1135–0.1146 price range. Notional turnover also increased by over 15% during this period, confirming the strength of the breakout and distribution.

Fibonacci Retracements and Key Levels

Price retraced key Fibonacci levels during the consolidation phase, with a 61.8% retracement at 0.1116 acting as support before the breakout. The 0.1135–0.1146 range corresponds to a 78.6% extension from the prior swing low, suggesting potential for a further 2–3% upward move.

ZRXUSDT appears to be in a strong short-term bullish phase, supported by technical confirmation and increasing participation. However, traders should be cautious of potential pullbacks or profit-taking near 0.1145–0.1150, as these levels could attract selling pressure in the next 24 hours.