0x (ZRX) is one of the representatives of decentralized finance (DeFi) that is taking the cryptocurrency space by storm. Currently, the majority of altcoins related to DeFi, including 0x, are going through the resurgence - some experts are quick to label it the next altseason - which is reflected in the gains/losses profile below.
ZRX gains/losses profile
A 20.58% gain over the months in the USD market isn't overly impressive, of course, but the fact that ZRX managed to maintain the positive dynamics despite the coronavirus crisis speaks highly of coin's resilience to bearish pressure, especially on the macro level. Therefore, ZRX would be a good addition to any cryptocurrency portfolio, particularly those focused around DeFi currencies, because it could supplement the cumulative gains.
0x finds it tough to make higher highs
The scenario of ZRX price action that we drafted in the previous 0x price prediction article has played out correctly as the price retraced to the support area between $0.3 - $0.33, after drawing a bullish flag on the weekly time frame, and then shot to the upside.
1-week ZRX/USDT chart