ZRXUSDT Market Overview on 2025-11-11

Summary
• ZRXUSDT traded in a 24-hour range of $0.2044–$0.2170, closing near the lower band.
• Volume spiked during the late ET session before tapering off overnight.
• RSI suggested oversold conditions in the early morning, though momentum remained weak.

ZRXUSDT for 0x Protocol/Tether opened at $0.2097 on 2025-11-10 at 12:00 ET, reached a high of $0.2170, a low of $0.2044, and closed at $0.2077 on 2025-11-11 at 12:00 ET. Total 24-hour volume amounted to 9,512,138. Total turnover was approximately $2,002,304. The 20-period EMA hovered slightly above the 50-period EMA during the morning hours, but by the late ET session, the 50 EMA caught up as downward momentum accelerated.

The price action showed a bearish bias after the early ET peak, with a series of descending 15-minute candles forming a bearish flag pattern after the high of $0.2170. Key support levels were identified around $0.2080 and $0.2060, with the latter being tested and briefly broken in the early morning before a partial rebound. No strong bullish confirmation occurred, and the price remained within a 15-minute Bollinger Band contraction phase, indicating muted volatility and indecision.

MACD lines flattened after the bearish divergence, and RSI dipped into oversold territory (below 30) during the overnight session. However, the rebound from $0.2044 lacked conviction, with volume declining and closing prices failing to reclaim earlier highs. Fibonacci retracements from the $0.2044–$0.2170 swing suggested a probable consolidation phase around the 50% level ($0.2107), but the price appears to be favoring the lower part of the retracement range.

The volume profile highlighted a significant spike during the 23:00–23:45 ET hours (UTC-5), coinciding with the price's breakdown from $0.2140. However, the subsequent rebound in the early morning was not supported by a proportional increase in volume, signaling weak follow-through. The divergence between price and volume during this rebound suggests caution for any short-term buyers.

Backtest Hypothesis
The RSI-based 5-day hold strategy showed only modest performance, marked by significant drawdowns, particularly during the bearish phase of the 24-hour period. While a few rebounds from oversold RSI levels provided small profitable opportunities, the elevated downside risk made the strategy less attractive for general investors. To improve robustness, incorporating tighter stop-loss mechanisms or trend-based filters (e.g., EMA crossovers) may help balance risk and reward. Testing alternative holding periods or adding volume-based confirmation could further enhance the strategy’s adaptability to the current volatility profile.