LayerZero

Momentum

would

<ul class="wp-block-list cnl-post-highlights-list"><li>LAYER is trading above the weekly low of $0.0703 and is in the compression zone of $0.08-$0.09.</li><li>The nearest resistance at $1.73 and ZRO is trading at $1.51 following a fall of 11.6 percent.</li><li>An upward move would change the short term momentum above $0.1032 and $0.0852 is critical support.</li></ul><p>On the weekly chart, LAYER was trading close to the $0.0889 benchmark, and it was slightly above the Binance-recorded low of $0.0703. Price action depicts a long-term downward trend of the high of $3.4187, and then compaction at the current level. <a href="https://www.coingecko.com/en/coins/layerzero" rel="noopener noreferrer nofollow">In the meantime, the native token of LayerZero, ZRO, traded at $1.51 following a 11.6% fall per day. </a>The two charts together indicate pressure in the support and volume at high levels.</p><h2 class="wp-block-heading" id="strong-weekly-structure-shows-extended-downtrend-strong"><strong>Weekly Structure Shows Extended Downtrend</strong></h2><p>The weekly LAYERUSDT chart outlines a steep rally toward $3.4187 before a sharp reversal. Subsequently, sellers controlled price action for several months. Each rebound attempt weakened, forming lower highs along the decline.&nbsp;</p><figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper"> https://twitter.com/GVRCALLS/status/2027632612630827244?s=20 </div></figure><p>The chart also marks $0.0703 as the recent structural low. Price currently holds slightly above that level. Additionally, the 24-hour range spans from $0.0852 to $0.1032. This range frames immediate volatility boundaries. Volume remains substantial, with 24-hour LAYER volume at 504.93 million tokens. USDT volume reached $47.70 million. Therefore, liquidity persists despite the compressed price zone.</p><h2 class="wp-block-heading" id="strong-key-levels-define-immediate-pressure-zones-strong"><strong>Key Levels Define Immediate Pressure Zones</strong></h2><p>ZRO spot data shows the token at $1.51. This level also serves as immediate support. However, resistance stands at $1.73 within the current 24-hour structure.</p><p>Moreover, the 24 hour range is from $0.0852 to $0.1032. This range defines the immediate volatility ranges. The LAYER weekly base between $0.08 and $0.09 now acts as a technical pivot. If buyers defend this band, price could attempt higher retracements. Conversely, failure to hold $0.08 exposes $0.0703 again.</p><h2 class="wp-block-heading" id="strong-short-term-scenarios-and-intraday-outlook-strong"><strong>Short-Term Scenarios and Intraday Outlook</strong></h2><p>For today, bullish momentum requires a push above $0.1032. A break above that high may open room toward $0.11 intraday. Increased volume would need to accompany that move. On the other hand, bearish continuation emerges below $0.0852. A decisive move under that level could revisit $0.0703 quickly. That area remains the nearest visible support.</p><p>In the long-term, the reversal zone between the $0.08 and the $0.09 levels will take the form of the $0.30 to the $0.40. Price is however still significantly lower than that target. In the meantime, ZRO will have to recover $1.73 to relieve short-term stress. Should buyers break beyond such resistance today, it may test price at $1.80. Instead, the continued weakness below the level of $1.51 could stretch the loss till the end of the session to a level of $1.40.</p>

Will Momentum Hold as LayerZero Pressures $1.73 While Building Above Key Support?

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