DeFi Projects Influence ETH Supply and Market Trends
Impact of DeFi on ETH Supply: Recent developments in the DeFi sector have led to significant reductions in ETH supply, with projects like Uniswap and 1inch leading in token burning activities, collectively burning over 12,233 ETH worth approximately 32.9 million dollars last week.
Key Players in ETH Burning: Major contributors to ETH burns include Uniswap (1,841.9 ETH), 1inch (207.7 ETH), and MetaMask (200.6 ETH), highlighting the growing influence of DeFi projects on Ethereum's market trends and potential price stability.
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Technical Analysis for ZRX
Technical Sentiment Analysis for 0x Protocol (ZRX) As of , 0x Protocol (ZRX) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for ZRX stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, ZRX is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
0x Protocol (ZRX) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.055 | 0.0709 | 0.0897 | 0.106 | 0.124 | 0.14 | 0.159 |
| Fibonacci | 0.0709 | 0.0842 | 0.0924 | 0.106 | 0.119 | 0.127 | 0.14 |
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