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The LayerZero token has continued its recent upward retracement. As a result, it has secured the second spot on today’s list of top crypto movers. Additionally, technical indicators appear to be strengthening to support further price increases.
LayerZero Statistics
ZRO Current Price: $2.97
Market Capitalization: $326.43M
Circulating Supply: 110M
Total Supply: 1B
CoinMarketCap Rank: 130
Key Price Levels
Resistance: $3.00, $3.50, $4.00
Support: $2.50, $2.25, $2.00
ZRO Buyers Extend Upside Retracement
On the LayerZero daily chart, price action in the previous session rebounded off the support formed by the 20-day Moving Average (MA) line. As a result, the most recent price candle is now positioned above both the 20-day and 50-day MA lines.
Meanwhile, the Stochastic ROC indicator is rising and has moved above the equilibrium level. Additionally, the indicator line has turned green, signaling growing bullish momentum. Consequently, price action appears poised to breach the next psychological resistance level.
LayerZero Bulls Maintain Control Near the $3.00 Threshold.
In the 4-hour ZRO/USDT market, price action continues its upward movement and has tested the $3.00 level. However, a minor retracement followed after touching the $3.00 mark. Despite this, the token remains above all MA lines on the chart.
Moreover, the latest price candle remains green, reinforcing the notion that bullish forces are still dominant. Additionally, the Stochastic ROC indicator is trending upward from below the equilibrium level, with its extreme terminal approaching a breach of that level. Therefore, traders may target the $3.20 price level soon.
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