{"id":639236,"date":"2024-09-02T15:30:53","date_gmt":"2024-09-02T15:30:53","guid":{"rendered":"https:\/\/www.wncen.com\/?p=639236"},"modified":"2024-09-02T10:22:13","modified_gmt":"2024-09-02T10:22:13","slug":"layerzero-tumbles-toward-3-19-after-trendline-rejection","status":"publish","type":"post","link":"https:\/\/www.wncen.com\/news\/layerzero-tumbles-toward-3-19-after-trendline-rejection\/","title":{"rendered":"LayerZero Bears Take Control: ZRO Tumbles Toward $3.19 After Trendline Rejection"},"content":{"rendered":"
LayerZero<\/span><\/a> (ZRO) is under renewed selling pressure, with its price sliding toward $3.19 after being rejected at a key trendline. The sharp downturn has shifted market sentiment to a more bearish outlook, sparking concerns about deeper declines. With bears seemingly in control, all eyes are on whether ZRO can find support or if it will continue to drop.<\/span><\/p>\n This article aims to analyze the recent bearish move of ZRO following a trendline rejection, as the price tumbles toward the critical $3.19 level. We’ll explore the key technical indicators, <\/span>market<\/span><\/a> dynamics, and potential scenarios to provide traders and investors with insights into whether the bearish trend will continue or if a recovery might be on the horizon.<\/span><\/p>\n As of the time of writing, LayerZero is trading around $3.73, marking a 5.94% decline, with a market capitalization of over $410 Million and a trading volume exceeding $100 million. In the past 24 hours, ZRO\u2019s market cap has decreased by 5.99%, and its trading volume has dropped by 0.57%<\/span><\/p>\n On the 4-hour chart, following a successful trendline rejection, LayerZero has continued to gain negative <\/span>momentum<\/span><\/a>, dropping below the 100-day Simple Moving Average (SMA) toward the $3.19 support level. The digital asset has maintained a steady downward move, indicating that the bears are in control and could push the price even lower.<\/span><\/p>\nMarket Sentiment Shifts: LayerZero Set For Further Declines<\/strong><\/h2>\n