0x is an infrastructure platform that provides a standard protocol in the Ethereum blockchain that allows any Ethereum token to be traded.
The protocol is powered by the ERC20 ‘native token’ known as ZRX and was established in 2016 by Will Warren and Amir Bandeali.
In 2019, the ZRX token is upgraded by adding additional functionality and aims to promote interoperability between decentralized applications (DApps).
The 0x platform also enables Ethereum-based peer-to-peer token exchange and is often referred to as a decentralized exchange (DEX) platform.
To date, 0x has limited the supply of ZRX in the market by a total of 1 billion tokens.
Among the latest developments, 0x has received an allocation of $ 10.5 million in collaboration to implement its latest project with Polygon.
As can be seen on the ZRX/USDT chart, the ZRX price movement once exhibited a jump of over 500% and reached the latest all -time high (ATH) level at the price level around $ 2.40.
In line with the fall in the value of Bitcoin, the price of ZRX also made a drastic decline to re -test the support level at the price level of $ 0.55.
But it can be seen that the $ 0.55 support level is able to support the price surge to return to the SBR level (support become resistance) around $ 0.70.
If the price movement continues to maintain the uptrend, it is likely that the SBR level of $ 0.70 will be broken before testing the next SBR level around the price level of $ 0.80- $ 0.85.
If the SBR level of $ 0.80- $ 0.85 manages to be broken, the ZRX price movement is expected to give an early indication to return to the bullish trend.
However, if the decline continues, the ZRX price is expected to test the $ 0.55 support level again before heading to the 2021 market opening level around $ 0.35.
As of 4.00 pm local time, the price of the ZRX is moving a little slow to decline around 1% and is trading at the price level of around $ 0.66.
