Add as a preferred source on GoogleLayerZero (ZRO) Rebounds Above $1.80 After Oct. 30 Low of $1.41
The $1.60-$1.64 range was identified as a local demand zone. Open interest rose 9.8%, while daily trading volume fell 41.3%.
LayerZero (ZRO) moved above $1.80 after recovering from a $1.41 low on Oct. 30, and traded above the $1.60-$1.64 local demand zone.
The rebound carried ZRO above $1.80 and past $1.51, the 61.8% Fibonacci retracement of a rise from $0.918 to $2.48. Open interest rose 9.8%, and spot cumulative volume delta increased from Friday. Daily trading volume declined 41.3%.
Loon Finance announced it selected LayerZero’s OFT Standard as the interoperability solution for CADC, its Canadian dollar-backed stablecoin. Loon Finance cited security, liquidity and compliance controls as factors in its choice.
A sustained move below $1.417 would invalidate the short-term bullish chart setup.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.