LayerZero

LayerZero has made a strong recovery, keeping its price from falling below $3 during the recent bearish market. The bulls have taken control, and a big upswing seems likely, aiming to reach a new all-time high.JOIN CRYPTOS HEADLINES<a href="https://t.me/CryptosHeadlines" rel="noopener noreferrer nofollow">TELEGRAM CHANNEL</a><img src="https://academy-public.coinmarketcap.com/optimized-uploads/cbe090efca4c453d895d294189def56b.svg&#43;xml" />After a tough Thursday, the crypto markets are starting to recover. <a href="https://cryptosheadlines.com/why-bitcoins-price-went-back-to-34000/" rel="noopener noreferrer nofollow">Bitcoin’s price has climbed back</a> above $56,000, boosting confidence among market participants. However, Ethereum and other major altcoins are still struggling to break through resistance levels.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/33910bfc5af24c3f8cf995bfe9776b6f.png" /><h3 id="layerzero-s-swift-recovery-and-future-prospects">LayerZero’s Swift Recovery and Future Prospects</h3>In contrast to other tokens, LayerZero has recovered faster than others. The ZRO price jumped from a low of about $2.73 to nearly $4, marking a more than 40% increase even while the <a href="https://cryptosheadlines.com/toncoin-gains-4-despite-top-10-crypto-market-decline/" rel="noopener noreferrer nofollow">crypto markets were heavily declining</a>. Now that the ZRO price has triggered a recovery, there is speculation on whether it will reach $5 before the end of the week.The ZRO price started its trading journey under intense selling pressure due to an airdrop. However, after shedding out the weak hands, the price recovered well and is now trading just 15% to 17% away from its highs. Despite a significant recovery, the bulls appear to be exhausted, causing a minor pullback. Nevertheless, this pullback could be limited within a certain range as the price is poised to reach new highs in the coming week.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/b9bff4a4289c45aa827376b2de3cdd67.png" />TradingView<h3 id="layerzero-zro-navigates-bearish-pressure-with-bullish-potential">LayerZero (ZRO) Navigates Bearish Pressure with Bullish Potential</h3>The short-term price action of ZRO indicates that the token is battling heavy bearish pressure to reclaim a positive upswing. Despite the ongoing bearish activity, the bulls are firmly defending the gained support, paving the way for the token to reach higher targets. Currently, the bulls have paused the ascending trend while the bears remain passive, suggesting fewer chances of a significant pullback as the technical indicators remain bullish.<a href="https://cryptosheadlines.com/rndrs-13-41-jump-could-lead-to-30-ai-token-by-august/" rel="noopener noreferrer nofollow">Also Read: RNDR’s 13.41% Jump Could Lead to $30 AI Token by August</a>The StochRSI has reached its upper threshold and is preparing for a reversal. Meanwhile, the Ichimoku cloud has turned bullish after withstanding some bearish actions. Consequently, the LayerZero (ZRO) price is expected to maintain a healthy ascending consolidation, reaching $4, followed by a substantial upswing beyond $4.5 to form a new all-time high around $4.74. However, before testing the highs at $5, the bears may momentarily halt the rally, keeping it consolidated below these levels.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/33910bfc5af24c3f8cf995bfe9776b6f.png" />Nevertheless, market sentiments remain bullish, and the ZRO price is poised to hit $5, likely in the second half of July.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/9aae4e9b94d54752bb3b1c552c245b89.png" />Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

LayerZero Eyes 25% Rise: Will ZRO Hit $5 This Weekend?

Table of Contents

CryptosHeadlines.com

Other articles published on Jul 6, 2024

Surpassing Dogeverse and Toncoin: PAWFURY ($PAW) Targets $0.050 Surpassing DOGVERSE and TON.

Central Bank of Nigeria accuses Binance of unauthorized banking

Dogecoin – How its MVRV may have saved its short-term price action

5 Ways to Build Wealth with Cryptocurrencies

Don’t Miss These 5 Altcoins with Potential 3500% Upside

Bitcoin Selloff Explained! Is This the Right Time to Buy More Crypto?

Join our free newsletter for daily crypto updates!