0x facing some volatility ahead. 🔼❓
#6 in top 30d DAA within Top 50 ERC-20 list is ZRX today:
Unlike other coins in this list, 0x's latest DAA pattern contains a batch of anomalies and looks quite interesting:
This chart can be found in Sanbase and is available for registered users for free.
The above DAA pattern usually precedes a positive price action. Especially when supported by other metrics.
First level of support is the Network Growth. How is it doing?
Support detected, but not complete. Yesterday's abnormal DAA spike is not followed by the Network Growth.
Next metric is the Token Age Consumed:
Oh. it's spiking lately quite hard. Means - volatility is coming.
Transaction Volume and it's fare sister Token Circulation:
Nice confirmation from both!
Taking a deeper dive into ZRX onchain data using Sandata.
Mean age, two years time span:
Very slight drops can be seen. It's usually a sign of the top.
More details about why it's working like this are available in great post by @tzanko - https://insights.santiment.net/read/%F0%9F%93%A2-mean-age-653
Once again, this is the first and light signal opposite to all above.
Percent of coins active last 90 days:
A slight increase is visible on this metric. Standing for possible slight price correction.
Cause basically percent of active coins tends to go opposite with price as discovered by @dindustries
This is the second opposite signal.
Next is MVRV. It usually tops before the price top. And opposite.
What's seen here? 60 days MVRV diving down yesterday. Price may follow.
It's a third potential conservative signal.
Heaviest ZRX holders tend to offload their bags except last few days.
Three changes in holders, ranks from 18 to 50 recently.
What kind of changes?
One whale seems extremely confident in accumulating ZRX, LINK and REP:
Noticed what's common within these three tokens?
All are easily available on DEXes. But I'm not saying bought initial stacks on decentralized exchanges in 2018. Exactly on top by the way.
Although wallet is holding 0.1% of ZRX supply, this alert will trigger when ZRX will start to move out - https://app.santiment.net/sonar/signal/1210?title=ZRX%20whale%20dump%20alert
Why not to consider shorting these tokens on fulcrum when signals fire?
Finally, the important social part.
What kind of mood is attached to ZRX these days?
Quite negative, right? Lots of space for price to go up.
To sum up: I have a positive feeling about ZRX after writing this.