• bitcoinBitcoin (BTC) $ 87,671.00
  • ethereumEthereum (ETH) $ 3,179.12
  • tetherTether (USDT) $ 1.00
  • solanaSolana (SOL) $ 206.73
  • bnbBNB (BNB) $ 611.16
  • dogecoinDogecoin (DOGE) $ 0.384731
  • xrpXRP (XRP) $ 0.669026
  • usd-coinUSDC (USDC) $ 1.00
  • staked-etherLido Staked Ether (STETH) $ 3,176.20
  • cardanoCardano (ADA) $ 0.538234
  • tronTRON (TRX) $ 0.177761
  • shiba-inuShiba Inu (SHIB) $ 0.000024
  • wrapped-stethWrapped stETH (WSTETH) $ 3,739.39
  • the-open-networkToncoin (TON) $ 5.29
  • avalanche-2Avalanche (AVAX) $ 32.26
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 87,116.00
  • wethWETH (WETH) $ 3,181.18
  • suiSui (SUI) $ 3.03
  • chainlinkChainlink (LINK) $ 13.49
  • bitcoin-cashBitcoin Cash (BCH) $ 417.38
  • polkadotPolkadot (DOT) $ 5.12
  • leo-tokenLEO Token (LEO) $ 7.27
  • nearNEAR Protocol (NEAR) $ 5.21
  • aptosAptos (APT) $ 11.91
  • wrapped-eethWrapped eETH (WEETH) $ 3,342.26
  • litecoinLitecoin (LTC) $ 73.73
  • pepePepe (PEPE) $ 0.000013
  • usdsUSDS (USDS) $ 1.00
  • uniswapUniswap (UNI) $ 8.53
  • crypto-com-chainCronos (CRO) $ 0.161218
  • bittensorBittensor (TAO) $ 545.68
  • internet-computerInternet Computer (ICP) $ 8.29
  • stellarStellar (XLM) $ 0.127149
  • fetch-aiArtificial Superintelligence Alliance (FET) $ 1.30
  • kaspaKaspa (KAS) $ 0.132780
  • ethereum-classicEthereum Classic (ETC) $ 21.90
  • daiDai (DAI) $ 1.00
  • whitebitWhiteBIT Coin (WBT) $ 21.76
  • ethena-usdeEthena USDe (USDE) $ 1.00
  • dogwifcoindogwifhat (WIF) $ 3.01
  • polygon-ecosystem-tokenPOL (ex-MATIC) (POL) $ 0.371429
  • blockstackStacks (STX) $ 1.90
  • moneroMonero (XMR) $ 148.32
  • render-tokenRender (RENDER) $ 6.77
  • aaveAave (AAVE) $ 173.98
  • okbOKB (OKB) $ 43.39
  • filecoinFilecoin (FIL) $ 3.98
  • mantleMantle (MNT) $ 0.701113
  • bonkBonk (BONK) $ 0.000034
  • arbitrumArbitrum (ARB) $ 0.587844
  • first-digital-usdFirst Digital USD (FDUSD) $ 0.999387
  • injective-protocolInjective (INJ) $ 23.56
  • hedera-hashgraphHedera (HBAR) $ 0.058608
  • celestiaCelestia (TIA) $ 5.13
  • immutable-xImmutable (IMX) $ 1.24
  • vechainVeChain (VET) $ 0.025343
  • fantomFantom (FTM) $ 0.712822
  • bitget-tokenBitget Token (BGB) $ 1.41
  • optimismOptimism (OP) $ 1.55
  • cosmosCosmos Hub (ATOM) $ 4.95
  • binance-peg-wethBinance-Peg WETH (WETH) $ 3,164.50
  • thorchainTHORChain (RUNE) $ 5.67
  • flokiFLOKI (FLOKI) $ 0.000194
  • sei-networkSei (SEI) $ 0.444475
  • the-graphThe Graph (GRT) $ 0.177937
  • rocket-pool-ethRocket Pool ETH (RETH) $ 3,522.18
  • ethenaEthena (ENA) $ 0.561311
  • mantle-staked-etherMantle Staked Ether (METH) $ 3,332.84
  • jupiter-exchange-solanaJupiter (JUP) $ 1.10
  • worldcoin-wldWorldcoin (WLD) $ 2.24
  • pyth-networkPyth Network (PYTH) $ 0.393635
  • popcatPopcat (POPCAT) $ 1.46
  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 3,252.94
  • solv-btcSolv Protocol SolvBTC (SOLVBTC) $ 87,180.00
  • theta-tokenTheta Network (THETA) $ 1.35
  • makerMaker (MKR) $ 1,501.44
  • kucoin-sharesKuCoin (KCS) $ 10.85
  • mantra-daoMANTRA (OM) $ 1.45
  • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 87,873.00
  • algorandAlgorand (ALGO) $ 0.144169
  • gatechain-tokenGate (GT) $ 9.30
  • ondo-financeOndo (ONDO) $ 0.828543
  • raydiumRaydium (RAY) $ 4.39
  • arweaveArweave (AR) $ 17.48
  • msolMarinade Staked SOL (MSOL) $ 254.89
  • based-brettBrett (BRETT) $ 0.111036
  • bitcoin-svBitcoin SV (BSV) $ 55.57
  • beam-2Beam (BEAM) $ 0.020377
  • ether-fi-staked-ethether.fi Staked ETH (EETH) $ 3,164.72
  • galaGALA (GALA) $ 0.025697
  • neiro-3Neiro (NEIRO) $ 0.002411
  • fasttokenFasttoken (FTN) $ 3.04
  • lido-daoLido DAO (LDO) $ 1.12
  • heliumHelium (HNT) $ 5.81
  • bittorrentBitTorrent (BTT) $ 0.000001
  • starknetStarknet (STRK) $ 0.464926
  • tokenize-xchangeTokenize Xchange (TKX) $ 11.97
  • peanut-the-squirrelPeanut the Squirrel (PNUT) $ 0.965688
  • lombard-staked-btcLombard Staked BTC (LBTC) $ 87,252.00
  • jasmycoinJasmyCoin (JASMY) $ 0.019482
  • matic-networkPolygon (MATIC) $ 0.372621
  • aerodrome-financeAerodrome Finance (AERO) $ 1.35
  • flowFlow (FLOW) $ 0.577003
  • coredaoorgCore (CORE) $ 0.951791
  • quant-networkQuant (QNT) $ 60.25
  • solv-protocol-solvbtc-bbnSolv Protocol SolvBTC.BBN (SOLVBTC.BB) $ 87,272.00
  • pendlePendle (PENDLE) $ 5.25
  • arbitrum-bridged-wbtc-arbitrum-oneArbitrum Bridged WBTC (Arbitrum One) (WBTC) $ 87,323.00
  • goatseus-maximusGoatseus Maximus (GOAT) $ 0.851417
  • cat-in-a-dogs-worldcat in a dogs world (MEW) $ 0.009382
  • eosEOS (EOS) $ 0.548190
  • jupiter-staked-solJupiter Staked SOL (JUPSOL) $ 217.83
  • dydx-chaindYdX (DYDX) $ 1.17
  • elrond-erd-2MultiversX (EGLD) $ 29.60
  • ordinalsORDI (ORDI) $ 38.94
  • axie-infinityAxie Infinity (AXS) $ 5.15
  • binance-peg-dogecoinBinance-Peg Dogecoin (DOGE) $ 0.381927
  • aioz-networkAIOZ Network (AIOZ) $ 0.679194
  • neoNEO (NEO) $ 10.91
  • apecoinApeCoin (APE) $ 1.06
  • akash-networkAkash Network (AKT) $ 3.08
  • ecasheCash (XEC) $ 0.000039
  • flare-networksFlare (FLR) $ 0.014490
  • usddUSDD (USDD) $ 1.00
  • nexoNEXO (NEXO) $ 1.15
  • notcoinNotcoin (NOT) $ 0.007208
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 3,265.28
  • mina-protocolMina Protocol (MINA) $ 0.621483
  • tezosTezos (XTZ) $ 0.708380
  • kaiaKaia (KAIA) $ 0.120306
  • grassGrass (GRASS) $ 2.81
  • the-sandboxThe Sandbox (SAND) $ 0.282950
  • conflux-tokenConflux (CFX) $ 0.146638
  • l2-standard-bridged-weth-baseL2 Standard Bridged WETH (Base) (WETH) $ 3,187.32
  • mog-coinMog Coin (MOG) $ 0.000002
  • gnosisGnosis (GNO) $ 252.64
  • fraxFrax (FRAX) $ 0.995818
  • tether-goldTether Gold (XAUT) $ 2,607.62
  • wormholeWormhole (W) $ 0.235185
  • decentralandDecentraland (MANA) $ 0.339265
  • coinbase-wrapped-staked-ethCoinbase Wrapped Staked ETH (CBETH) $ 3,442.11
  • book-of-memeBOOK OF MEME (BOME) $ 0.009052
  • arkhamArkham (ARKM) $ 2.09
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  • superfarmSuperVerse (SUPER) $ 1.33
  • zcashZcash (ZEC) $ 39.74
  • axelarAxelar (AXL) $ 0.707878
  • act-i-the-ai-prophecyAct I The AI Prophecy (ACT) $ 0.616232
  • spx6900SPX6900 (SPX) $ 0.637621
  • chilizChiliz (CHZ) $ 0.063855
  • nervos-networkNervos Network (CKB) $ 0.012808
  • fwogFwog (FWOG) $ 0.584822
  • ethereum-name-serviceEthereum Name Service (ENS) $ 17.11
  • turboTurbo (TURBO) $ 0.008233
  • pepecoin-2PepeCoin (PEPECOIN) $ 4.58
  • beldexBeldex (BDX) $ 0.081482
  • zksyncZKsync (ZK) $ 0.148022
  • safeSafe (SAFE) $ 1.07
  • terra-lunaTerra Luna Classic (LUNC) $ 0.000098
  • dydxdYdX (ETHDYDX) $ 1.17
  • binance-staked-solBinance Staked SOL (BNSOL) $ 208.74
  • roninRonin (RON) $ 1.46
  • pancakeswap-tokenPancakeSwap (CAKE) $ 1.85
  • oasis-networkOasis (ROSE) $ 0.076768
  • super-oethSuper OETH (SUPEROETHB) $ 3,180.14
  • sats-ordinalsSATS (Ordinals) (SATS) $ 0.00000024
  • pax-goldPAX Gold (PAXG) $ 2,586.22
  • corgiaiCorgiAI (CORGIAI) $ 0.001475
  • paypal-usdPayPal USD (PYUSD) $ 1.00
  • bridged-usdc-polygon-pos-bridgeBridged USDC (Polygon PoS Bridge) (USDC.E) $ 0.999925
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  • stader-ethxStader ETHx (ETHX) $ 3,303.42

LayerZero Under Intensified Bearish Pressure, Halting Recovery Efforts

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LayerZero (ZRO) is currently experiencing a tumultuous phase as its recent recovery attempts falter amid mounting bearish pressure. After initially showcasing potential, the altcoin’s upward momentum has stalled, leading to a possible downturn. With key support levels at risk and bearish forces gaining traction, the outlook for LayerZero’s recovery appears increasingly uncertain.

In this article, we will analyze LayerZero’s recent challenges, focusing on its stalled recovery amid intensified bearish pressure. It examines key technical indicators and market sentiment contributing to the downturn, providing insights into how these factors may impact ZRO’s price trajectory. Additionally, the article assesses critical support levels that could affect the token’s ability to navigate the current environment and explore the prospects for a potential rebound in the midst of ongoing market challenges.

Current Market Landscape: Understanding The Bearish Pressure

Recently, ZRO’s price has shown a bearish turn on the 4-hour chart, retracing below the 100-day Simple Moving Average (SMA) after struggling to break above this key technical level. This inability to maintain upward momentum suggests a shift in market sentiment, with selling pressure outweighing buying interest.

LayerZero Under Intensified Bearish Pressure, Halting Recovery Efforts

An analysis of the 4-hour Relative Strength Index (RSI) shows a decline in the signal line, which has fallen to 44% after previously rising to 47%, indicating a shift in strength toward the neutral zone. A level of 44% means that the asset is nearing oversold territory, raising concerns about possible further declines.

Also, the daily chart for LayerZero reveals negative momentum, highlighted by multiple bearish candlesticks and a drop below the 100-day SMA. The formation of several pessimistic candlesticks and the breach below the SMA suggest that negative sentiment is strengthening as sellers exert downward pressure.

LayerZero Under Intensified Bearish Pressure, Halting Recovery Efforts

Finally, on the 1-day chart, the RSI has declined below the crucial 50% threshold, currently sitting at 44%. A reading under 50% implies that sellers are gaining dominance, which may lead to the asset approaching oversold territory and heightening concerns about more price declines.

What’s Next For LayerZero?

Based on current market activities, the price of LayerZero appears poised for an additional drop toward the $3.5 support level. If it breaches this level, it could lead to an extended downward movement for the cryptocurrency, pushing it toward other significant support levels.

However, if ZRO’s price stabilizes and regains bullish momentum, it may climb toward the $4.5 resistance mark. Should it successfully breach this level, it could lay the foundation for further gains, potentially targeting even higher resistance levels as market sentiment shifts back in favor of the bulls.

LayerZero Under Intensified Bearish Pressure, Halting Recovery Efforts

Featured image from Shutterstock, chart from Tradingview.com

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