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LayerZero [$ZRO] gained 14% in the last 24 hours, while daily trading volume climbed more than 31% to $29.75 million, reflecting renewed buying interest.
Looking into the 4-hour timeframe chart, $ZRO traded at $1.06 after extending a recovery that began near the $0.796 low at press time. That rebound followed weeks of persistent weakness, during which sellers steadily pushed the price lower from the $1.30 region.
However, sellers gradually lost momentum, allowing buyers to reclaim the $1.00 level. More importantly, the $1.00-$1.05 range has now flipped from resistance into support.
Can $ZRO break above its next resistance zone?
The recovery has placed the $1.10-$1.15 supply zone directly in focus.
This area remains important because previous rebound attempts repeatedly stalled there during the broader downtrend. A decisive breakout above that range could open the path toward the larger $1.30-$1.35 resistance zone.
Even so, rejection may trigger a retest of the newly reclaimed support area. Buyers will need to defend that zone to keep the recovery intact.
Network growth lags price recovery
LayerZero’s recent recovery reflects improving sentiment, while network activity remains relatively steady. The protocol has processed more than $200 billion in cross-chain volume, yet daily activity remains below earlier highs.
Meanwhile, Open Interest sat near $85 million, showing traders are returning without building excessive leverage. Attention is now turning to the unlock on the 20th of June, which will add 25.71 million $ZRO, worth roughly $23 million, to the circulating supply.
This additional supply could create selling pressure, especially while Bitcoin dominance remains elevated near 59%.
If demand does not expand alongside that increase, the event could slow the recovery and create renewed pressure on recently reclaimed price levels.
$ZRO eyes a break above $1.09
As the lower timeframe indicates the recovery, the 1-day timeframe portrays a different picture. $ZRO remains in a broader downtrend, though recent price action suggests selling pressure is easing.
After finding support near $0.796, buyers pushed the price back above toward $1.08, improving the short-term outlook.
The next key resistance sits between $1.087 and $1.092, where previous rallies lost momentum.
A daily close above that zone would strengthen the bullish case and expose the $1.30-$1.32 range. By contrast, rejection could keep downside risks in play. In that scenario, $0.943 remains the first major support level.
A break below that area could increase the likelihood of another test of the $0.796 low.
Final Summary
- $ZRO reclaimed the $1.00 region as buyers regained control, placing key resistance levels back in focus.
- LayerZero faces a crucial test between recovery momentum and upcoming token supply expansion on 20 June.