QuickSwap (QUICK) and bZx Protocol (BZRX) Technical Analysis: What to Expect?

Dalmas  |  Apr 29, 2021

QuickSwap and bzX technical analysis suggest strength. QUICK/WETH prices may reach 0.55 ETH. On the other hand, BZRX/USDT can breach resistance and touch $1.05 in the medium term.

bZx Protocol (BZRX)

From the bZx Protocol, users can do time margin and leverage trade at the same. The BZRX is its native currency.

Past Performance of BZRX

With rising demand, adjudged from expanding trading volumes over the last 24 hours, BZRX prices could track higher.

As of writing on Apr 29, the BZRX/USDT prices are within a $0.13 zone with support and resistance at $0.69 and $0.82, respectively.

Day-Ahead and What to Expect?

BZRX is trading at $0.82, adding roughly 12 percent on the last day. From BZRX/USDT technical analysis in the daily chart, the path of resistance remains northwards from a top-down analysis.

Prices are choppy, but BZRX prices are in range mode with resistance between the $0.85 and $1.05 zone marked by Feb and Apr 2021 highs.

BZRX/USDT Price Forecast

bZx Daily Price Chart for Apr 29

Bulls stand a chance, as read from the BZRX/USDT candlestick arrangement in the daily chart. There is a well-defined three-bar bullish reversal pattern with a conspicuous bull bar that has been confirmed.

Aggressive BZRX traders can buy the dips with stops below Apr 24 lows and targets at $1.05—Apr 2021 high.

A breakout above this level may see BZRX soar to $1.3—the 1.618 Fibonacci extension level of the Q1 2021 trade range.

QuickSwap (QUICK)

QuickSwap is an Uniswap fork relying on Matic for speed and low costs trading. QUICK is its governance token.

Past Performance of QUICK

The QUICK token remains in an uptrend, within a $300 trade zone with caps at $700 and $1.03k in the past 24 hours.

At the same time, trading volumes are decent, shrinking but facilitating fast, efficient swapping of ERC-20 tokens.

Day-Ahead and What to Expect

The QUICK price is trading at $843, according to trackers. It is up 10 percent versus the greenback on the last day, firm versus ETH. After consolidating for the better part of March, the token exploded in late April.

Notably, it has posted superior gains and is trending at Feb 2021 highs versus ETH. During this time, volumes exploded.

QUICK/WETH Price Analysis

QuickSwap Daily Price Chart for Apr 29

There is a tinge of overvaluation after Apr 28 bar closed above the upper in red. Apr 29 bar is in tight ranges and may correct.

Still, QUICK bulls are in the driving seat as long as QUICK/WETH prices are within Apr 27 bull bar above 0.16 ETH.

A break above 0.40 ETH may trigger FOMO, pumping QUICK towards 0.54 ETH in the medium term.

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