Crypto Market Rebounds with NOT Surging to $0.016 and ZRO to $4.05

The crypto market has experienced a sharp dip but has rebounded, reaching a solid $2.12 trillion. This marks a modest yet significant 0.37% increase from an intraday low of $2.03 trillion earlier today.

Trading volume has surged by an impressive 33.93%, reaching $73.69 billion. Amidst this volatility, two tokens, $NOT and $ZRO, have emerged as potential standouts, capturing investor interest with their price gains.

NOT Ups by 8% to $0.0138

After rebounding from an intraday low of $0.0138, the NOT token has recently climbed above its $0.01525 opening price, stabilizing at $0.01692. This marks an 8.92% increase compared to the previous day and a 21% rise over the past week.

Source: CoinMarketCap

This upward movement has propelled NOT’s market capitalization to the 49th spot in crypto rankings. As of press time, it stands at $1.734 billion, reflecting an 8.92% increase. Similarly, its 24-hour trading volume surged by 24.45% to $1.239 billion.

Despite this market optimism, NOT has yet to overcome the bearish trend fully. The monthly chart shows a 15.48% decline. For an apparent bullish reversal, NOT’s price needs to break above the $0.020 level, which acts as intraday resistance.

Indicators Suggest Uptrend for NOT Token

From a technical perspective, the RSI indicator is on an upward trajectory at 57.90, above the neutral line. This suggests an increase in bullish momentum, with the potential for upward movement. If this momentum strengthens, NOT could push past the $0.020 resistance, potentially reaching $0.025 and $00.28.

Source: TradingView

Similarly, the MACD indicator is close to crossing the signal line toward the upper region, indicating increasing buying pressure in the short term. This sentiment is further supported by the MACD histogram bars approaching the signal line.

ZRO Token Rebounds to $4.05

Like the NOT token, LayerZero’s ZRO token has seen a 2.18% increase in the last 24 hours. This uptick follows multiple retests around the $3.70 support level, stabilizing at its current price of $4.05.

This rebound indicates increased buying pressure, which has also impacted the asset’s market capitalization, pushing it to $445.02 million. This represents an increase of 2.18%, positioning it at the 124th spot in crypto rankings.

Source: CoinMarketCap

Contrastingly, its trading volume tells a different story. In the last 24 hours, it has seen a 13.94% dip to $523.12 million. This indicates that while intense buying pressure exists for ZRO, there may be a lack of interest in trading the token at its current price levels.

ZRO’s Bullish Indicators Point Price Breakout

On the 4-hour chart, the Chaikin Money Flow Index is moving upward at 0.27 above the zero line. This indicates a heightened influx of money into the ZRO market, increasing buying pressure, and potential bullish momentum.

Source: TradingView

Should this sentiment continue in the short term, market analysts forecast that the ZRO token could surpass its immediate resistance level around the $4.20 region. It also has the potential to challenge higher levels around the $4.40 zone last seen on Saturday.

Meanwhile, the MACD indicator shows a weak bullish resurgence as the MACD line slightly turns upward at 0.1077. Additionally, the MACD’s histogram bars are decreasing in size toward the zero line, indicating a slowly resurging bullish momentum.