LayerZero Bears Take Control: ZRO Tumbles Toward $3.19 After Trendline Rejection

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LayerZero Bears Take Control: ZRO Tumbles Toward $3.19 After Trendline Rejection - NewsBTC

Quick Summary:

In the past 24 hours, ZRO’s market cap has decreased by 5.99%, and its trading volume has dropped by 0.57% Market Sentiment Shifts: LayerZero Set For Further Declines On the 4-hour chart, following a successful trendline rejection, LayerZero has continued to gain negative momentum, dropping below the 100-day Simple Moving Average (SMA) toward the $3.19 support level.

The rejection at the trendline indicates increased selling pressure, which could lower ZRO’s price in the days ahead as market sentiment continues favoring the bears.

Should the price break through this resistance, it may rally, aiming for the next resistance point at $5.6 and potentially reaching even higher levels.However, if the $3.19 support level fails to hold and the price breaks below this threshold, the cryptocurrency could face additional declines, potentially moving toward the $2.69 range.