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Can ZROUSDT (Layer Zero) continue its upward trend?
ZROUSDT (Layer Zero) is one of the hot coins, having surged approximately 43%
in less than three days.
Let's analyze the fundamentals and technical aspects of ZROUSDT (Layer Zero).
The top 3 recent issues for ZROUSDT (Layer Zero)
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Integration with NOWPayments: NOWPayments has added LayerZero to its cryptocurrency payment options. This integration increases commercial use cases and exposure for LayerZero, positively impacting its price.
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Listing on Binance: LayerZero was listed on Binance on June 20, 2024, with several trading pairs, including ZRO/BTC and ZRO/USDT. Binance, being one of the largest cryptocurrency exchanges globally, significantly boosted LayerZero's liquidity and visibility.
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Charity-Based Airdrop: LayerZero introduced the "Proof-of-Donation" mechanism, where users receive ZRO tokens by donating to specified charities. This initiative resulted in approximately $18.5 million being donated, highlighting LayerZero's commitment to social responsibility and innovative approaches.
Technical Chart Analysis of ZROUSDT (Layer Zero):
ZROUSDT has recently maintained its support level around $3.6, which has been a major key level for a long time, and is now on an upward trend.
Let's analyze where ZROUSDT should find support in the future and what might happen if it fails to maintain these support levels.
Future Support Levels and Analysis for ZROUSDT
Maintaining support between $4.7 and $4.02, where the FVG (Fair Value Gap) level intersects with two key trendlines, is crucial for ZROUSDT's sustained upward movement. If this zone fails and turns into resistance, the recent upward momentum could be lost.
Key Features
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FVG Level:
- Between $4.7 and $4.2: This zone is crucial for maintaining the current bullish trend.
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Trendline Intersection:
- Between $4.1 and $4.2: This range is where two significant trendlines converge, providing strong support.
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Key Support Zone:
- Between $4.3 and $3.6: This broader range encompasses both the FVG and trendline levels, making it essential for sustaining the bullish outlook.
The primary goal for ZROUSDT is to stay above these support zones to continue its upward trajectory. If these levels hold, it supports a bullish continuation; if they fail, it may signal a weakening trend.
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