0x on Uncertain Ground

With the recent news that Coinbase will feature ERC20 tokens in the coming months, 0x rallied because of its association with Coinbase advisers. As of the moment, the trendline is holding but if it drops then we could see some pretty drastic downward movement to previous support lines. Watch that volume, and if it continues downward then this ascending channel will drop like a rock. The most important bit of news from the ERC20 Coinbase announcement concerns the words "in the coming months", and 0x could bleed as people become impatient and subsequently bearish.