Layerzero Price Prediction: Could $5 Be Just the Beginning?

06-Jul-2024 By: Lokesh Gupta
Layerzero Price Prediction: Could $5 Be Just the Beginning?

ZRO's Open Interest surged 86%, reaching $116.05 million

  • After a panic sell-off, the crypto markets initiate a robust recovery phase.

  • ZRO's price surged from a low of approximately $2.735 to nearly $4.254, marking a more than 50% increase amidst recent heavy crypto market declines.

  • On July 3rd, 2024, the ZRO token surged to $4.254, recovering from a low of $2.466 recorded on June 27th.

  • Following a sharp sell-off recently, $ZRO Token leads a swift recovery reminiscent of a V-shaped pattern.

  • Despite multiple attempts, ZRO token fails to break its previous all-time high set on July 3rd, currently stabilizing around $4.000.

  • On the hourly chart, $ZRO is currently consolidating within a Bullish Pennant Pattern following a recent increase.

  • According to Coingabbar Prediction, If bullish sentiment persists, ZRO could aim for the $5 threshold, bolstered by ongoing positive market sentiment.

  • Before testing the $5 highs, the market encounters resistance from bears, potentially keeping ZRO's price consolidated below this level in the near term.

KEY LEVELS :

RESISTANCE LEVEL : $4.700-$6.000

SUPPORT LEVEL : $3.350-$2.750

Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.

Also Read: Layerzero Price Prediction: Is ZRO Ready to Flip the Script?

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