LayerZero (ZRO) Gathers Momentum to Push Upwards

The LayerZero coin has registered an impressive price growth today. The token posted a price increase of 10.99%. Looking at the token’s daily chart, this seems like an impressive continuation of previous upside movement. Based on activity produced on the token’s daily chart, this market has the potential for more price growth at this time.

ZRO Market Statistics

Current Price: $2.313

Market Capitalization: 603.26M

Circulating Supply: 256.61M

Total Supply: 1B

CoinMarketCap Rank: —

Key Price Levels

Resistance: $2.500, $2.750, $3.000

Support: $2.250, $2.000, $1.750

ZRO Bulls Maintain a Strong Presence

Price activity in the LayerZero token’s daily chart has maintained an upward bearing over the past three sessions. Even the ongoing session is represented by a long green price candle standing above the 9-day Exponential Moving Average (EMA) curve.

Also, the Stochastic Relative Strength Index (SRSI) lines remain on an upward trajectory, with the lead line now testing the 100 mark of the indicator. Technically, this market aligns with a continued upside movement, at least in the short term.

LayerZero Bulls Are Keeping Their Edge

On the ZRO market’s 4-hour chart, one can see that buyers are trying to stay on top. This has retained the integrity of the trend. The current session is represented by a green price candle standing above the 9-day EMA line.

However, the candle shows some strain, as it has long upper and lower shadows. Meanwhile, the SRSI lines are still rising above the 70 mark of the indicator. Consequently, this market looks focused on breaching the nearby resistance at the $2.400 price level shortly.

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