LayerZero surges 12% - Will $9.07M in selling threaten ZRO’s rally?
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4 Articles
ZRO quotes in USD $2.03 and the market report indicates a daily advance of 10.19%, with a volume almost three times the average of 30 days. Phemex attributed the impulse to a technical break and purchases led by Binance, while another report pointed to an increase in the total blocked value of LayerZero V2. They are reported explanations, not a proven causality. An RSI of 72.4 and an annualized volatility of 144% advise caution.
Can LayerZero Sustain the 11% Rally Against $9.07M Selling Pressure?
TL;DR LayerZero recorded an 11.3% gain in the last session; its token ZRO trades at $1.96 with a market capitalization of $765 million. Perpetual contract volume surpassed $279 million in 24 hours, with a Long/Short ratio of 1.56 reflecting a predominance of buy positions. Despite the rally, net sell flow accumulated $9.07 million over the ...
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