Altcoins
Will ZRO Price Reach $10 During This Crypto Bull Market?
The cryptocurrency market has seen a negative price action with major crypto tokens seeing a decline in their respective portfolios. Also, the market leader, Bitcoin price has dropped by $1 and is currently trading with a price tag of around $66,500.
Layer Zero later showed similar price action as it recorded a decline in its portfolio in the past few hours. With rising volatility, will ZRO price regain momentum and record a new all-time high (ATH) in the coming weeks?
Layer Zero (ZRO) Price Action:
Despite a decline of about 5% in the last day with a trading volume of $280.55 million, the ZRO price is up 16.72% in the last seven days and 82.74% since its inception.
TradingView: ZRO/USDT exchange rate
With a trading price of $4,943, a circulating supply of 110 million ZRO tokens, and a total supply of 1 billion tokens, Layer Zero price has secured the 120th position with a market cap of $530.082 billion.
The SMA technical indicator shows a potential bullish convergence in the 1D time frame, suggesting growing bullish sentiment in the cryptocurrency sector.
Furthermore, the Moving Average Convergence Divergence (MACD) shows a steady decline in the red histogram with its averages recording a declining bearish sentiment. This highlights a high possibility of a bullish reversal in the near future.
Will ZRO Price Hit New All-Time High This Month?
If the market regains momentum, Layer Zero price will prepare to test its all-time high (ATH) of $5,570 in the coming weeks.
On the contrary, if the bears regain momentum, ZRO price will retest its $4,525 support level. Also, if the bears continue to dominate the market, Layer Zero price will plummet towards its lower $3.50 support level in the near future.