LayerZero (ZRO) is maintaining a positive recovery momentum, approaching the $2 mark during Wednesday’s trading session, despite the overall cryptocurrency market still facing pressure from US-EU trade tensions. Notably, the rally of this cross-chain messaging token remains quite solid even after the market absorbed a large supply influx, with over 25 million ZRO unlocked on Tuesday. The optimism of retail investors has contributed to stirring the derivatives market, pushing the Open Interest (OI) of the ZRO futures contract up by more than 30% in just 24 hours, nearing the $55 million threshold.
Short-term demand for LayerZero exceeds the 25 million token unlock
Latest data shows that 25.71 million ZRO tokens, equivalent to 6.36% of the total supply, were unlocked on Tuesday, mainly allocated to private investors and the core team. Despite the significant increase in circulating supply, ZRO’s price remains relatively stable in its recovery, indicating that market demand is still strong enough to absorb potential selling pressure.
Token unlock data for ZRO | Source: TokenomistIn the derivatives segment, the outlook is also positive. The open interest of ZRO futures contracts surged 32% within 24 hours, reaching $54.38 million, reflecting a notable increase in open positions. Meanwhile, the funding rate improved to -0.0060% from -0.0353% previously, indicating that short-selling sentiment from new positions is gradually cooling down.
Derivatives data for ZRO | Source: CoinGlass## LayerZero extends recovery on the 200-day EMA
As of Thursday, LayerZero’s price increased by about 8%, breaking above the 200-day exponential moving average (EMA) at $1.784. Notably, the 50-day EMA is trending upward and approaching the 100-day EMA, opening the possibility of forming a “golden cross” in the short term if the current upward momentum continues.
On the daily timeframe, the MACD indicator signals a positive trend as the MACD line crosses above the signal line, with the histogram remaining in positive territory and expanding, reflecting strengthening bullish momentum. At the same time, the RSI jumps to the 80 level and enters overbought territory, indicating strong buying pressure but also warning of a potential technical correction.
Daily ZRO/USDT chart | Source: TradingViewIn a bullish scenario, if ZRO maintains its upward trend, the closing price on 10/13 around $2.036 is likely to become a significant resistance zone, close to the key psychological level of $2.
Conversely, if the market weakens, the 200-day EMA at $1.784 could serve as the nearest support zone. The risk of a correction still exists, especially as the token unlock activity increases circulating supply and triggers profit-taking pressure. In that case, a deeper support zone is identified around the 100-day EMA, at approximately $1.557.
SN_Nour
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
'Black Swan' Author Nassim Taleb Believes Elon Musk's X Money is 'Much Smarter' Than Bitcoin - U.Today
Elon Musk's X Money will enter early access in April, with Nassim Taleb praising it as a superior alternative to Bitcoin. He argues it promotes competition in currency issuance, functional daily use, and is backed by a robust infrastructure, unlike volatile cryptocurrencies.
UToday59m ago
ETH 15-minute decline of 0.80%: On-chain large fund flows and DEX selling pressure resonate to trigger a downtrend
2026-03-11 15:00 to 2026-03-11 15:15 (UTC), ETH price briefly and rapidly declined within the range of 2042.35 to 2065.57 USDT, with a K-line return of -0.80% and an amplitude of 1.13%. Market volatility intensified during this period, with significantly increased attention, and short-term market pressure triggered market alertness.
The main driving force behind this anomaly is large-scale on-chain fund flows and sell pressure concentrated on decentralized exchanges (DEX). Monitoring data shows multiple large ETH transfers to trading platforms, suspected to involve institutions or whales.
GateNews1h ago
XRP Price Hints at Bullish Reversal as Negative Funding Rates Build Pressure on Short Sellers
XRP shows potential for a bullish reversal as market indicators align, with negative funding rates possibly triggering a short squeeze. Technical patterns and whale accumulation further support an upward move, indicating a significant price change may be imminent.
CryptometerIo1h ago
Shiba Inu (SHIB) regains momentum as buying pressure reaches the highest level of the month
The price of Shiba Inu (SHIB) is fluctuating around the 0.0000056 USD mark at the time of writing on Wednesday, after rising nearly 7% over the past two days. This recovery trend appears as on-chain indicators and derivatives market data begin to send positive signals. Trading volume is increasing.
TapChiBitcoin2h ago
Goldman Sachs: Hedge fund positioning may create conditions for a rebound in US stocks, with short positions rising to the highest since September 2022
Goldman Sachs report indicates that the structure of hedge fund positions in the US stock market is creating conditions for a market rebound. Speculators maintain long positions while shorting ETFs and futures. Short positions have reached their highest level since September 2022, reflecting market responses to uncertainty. If positive news emerges, it could trigger a rapid market rally.
GateNews2h ago
ETH 15-minute increase of 0.83%: Whales' capital inflow and DeFi lending demand resonate to drive the price
Between 13:30 and 13:45 (UTC) on March 11, 2026, ETH experienced a short-term fluctuation. The candlestick data shows a return of +0.83%, with a price range of 2046.07 to 2082.31 USDT, and an amplitude of 1.77%. Market activity increased during this period, with trading volume significantly higher than the previous cycle, and volatility exceeding the intraday average, attracting widespread market attention.
The main drivers of this fluctuation were the rapid inflow of large on-chain funds and active institutional accounts. Between 13:32 and 13:43,
GateNews2h ago
