LayerZero (ZRO) Price Prediction After Jumping 36% in a Week!

Bittime - LayerZero (ZRO) price is in a bullish trend! This token soared 36% over the past week to reach a price of $3.45 (around IDR 56,400). So, what is the prediction for the price of LayerZero (ZRO) in the future? Keep reading this article!

The trading volume of this token also exploded 113% to $558.4 million (around Rp 9,07 trillion). Meanwhile, its market capitalization reaches $378,3 million (approx. Rp 6,18 trillion).

LayerZero Price Increase Thanks to Collaboration with Trident3

LayerZero's rapid price increase is most likely related to its new partnership with Trident3, which was announced on Friday, June 28. They have integrated T3id, a peer-to-peer digital identity solution, into the LayerZero network. 

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This collaboration allows users to easily verify their identity across more than 70 blockchains connected through the LayerZero network.

Users can use the same identity across different blockchains using a “lock and mint” model. This involves securing the original NFT in a smart contract and creating an equivalent digital version on another network.

To illustrate, LayerZero is an omnichain interoperability protocol that enables seamless messaging between blockchains. This protocol ensures reliable and guaranteed message delivery with a customizable level of trust. 

You could say LayerZero is like a "blockchain of blockchains". This means that this network facilitates direct and unmediated communication between different blockchain networks.

One of LayerZero's superior features is Ultra Light Nodes (ULN). These smart contracts, deployed on each blockchain, act as endpoints for cross-blockchain communication. 

ULN ensures security and efficiency by verifying transactions and messages from other blockchains using block headers and transaction proofs.

LayerZero Price Statistics

• LayerZero Price: $3.45 (approx. Rp. 56,400)
• Market Capitalization: $378.3 million (around IDR 6.18 trillion
• Full Value: $3.43 Billion (around IDR 55.9 trillion)
• Trading Volume: $452.9 Million (around IDR 7.4 trillion)
• Circulating Supply: 250 Million
• Total Supply: 1 Billion

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LayerZero Price Indicator: N Trend Signal is strong

LayerZero price shows a gradual uptrend. The buyers (bulls) pushed the price up from the $2.61 support zone (around IDR 42,493), continuing the bullish momentum. This has pushed the price of LayerZero to an all-time high.

Bulls showed their strength by successfully defending the important support level of $3.27 (approximately Rp. 53,541), indicating strong potential for the ongoing bullish trend to continue.

Currently, LayerZero price is trading above the 200-day and 50-day simple moving averages (SMA) on the daily chart. The SMA acts as a key support level and signals that a bullish trend is underway. The moving average of $2.72 (around Rp. 44,304) further strengthens the positive sentiment for ZRO price.

The Relative Strength Index (RSI) indicator also supports the bullish view, rising above the 70 overbought zone after rebounding from the mid-50 level. This increase in momentum suggests that the RSI could surge further into the overbought region, indicating strong buying pressure.

Additionally, the Moving Average Convergence Divergence (MACD) indicator signals a rebound at neutral levels as it gradually rises to the overbought zone. The blue average line has crossed the orange signal line, indicating a bullish signal (an upward crossover), although buying momentum may be nearing its peak.

LayerZero Price: Further Uptrend?

The lack of resistance allows bulls to regroup and push prices up. Apart from that, the ascending triangle formation that is forming indicates the continuation of the bullish trend. This formation allows bulls to push the price higher, with a target of $4.03 (around Rp. 65,287).

However, if sellers (bears) take advantage of the weakness near the upper border of the triangle, they can initiate a price decline to the support level of $3.58 (around IDR 58,202) below the lower trend line of the triangle. Market players and investors should pay close attention to these levels for potential changes in market sentiment and price movements.

How to Buy LayerZero (ZRO) on Bittime

You can buy and sell LayerZero (ZRO) in an easy and safe way through Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

LayerZero (ZRO) available on Bittime with market pair ZRO/IDR. To be able to buy ZRO IDR Of Bittime Make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Study A complete guide on how to buy LayerZero (ZRO) on Bittime. 

Monitor graphic movement price LayerZero (ZRO), Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.