LayerZero hits $96M perp liquidity – But can ZRO break $2.28? – Crypto News – Crypto News
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LayerZero hits $96M perp liquidity - But can ZRO break $2.28? LayerZero hits $96M perp liquidity - But can ZRO break $2.28?

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LayerZero hits $96M perp liquidity – But can ZRO break $2.28? – Crypto News

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9 hours ago

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LayerZero [ZRO] recorded a double-digit percentage gain, at press time, placing it among the top-performing cryptocurrencies in the market.

Trading activity has accelerated alongside the price move, with market volume surging past $130 million during the rally.

However, market data suggests the advance is approaching a familiar hurdle. Despite multiple attempts, price has yet to decisively clear a key resistance level, which continues to cap further upside.

ZRO perpetual liquidity keeps prices elevated

ZRO’s gains over the past 24 hours come amid a sharp increase in perp market liquidity, with price action reflecting sustained bullish conviction among traders.

Perpetual liquidity has expanded significantly, reaching approximately $96 million at the time of writing. This has coincided with positive Funding Rate data of 0.0191%, reinforcing the view that long traders remain in control.

Source: CoinGlass

When capital inflows rise alongside a positive funding rate, it typically signals strong bullish positioning in derivatives markets. In ZRO’s case, this dynamic has already translated into higher prices and expanding volume.

The simultaneous rise in both metrics suggests the current move is momentum-driven rather than a thin or speculative spike, at least for now.

THIS hurdle remains

ZRO’s recent gains have kept the asset trading above the descending channel it previously exited on the daily timeframe, reinforcing the strength of the breakout attempt.

The rally followed a clear reaction from the immediate demand zone between $1.81 and $1.88, which provided the base for the latest upward push.

That said, a clean breakout would require the price to move decisively above the $2.28 resistance level, marked on the chart by a dotted black line. A successful move beyond this zone could open the door to a short-term continuation higher.

ZRO price chart

Source: TradingView

A broader bullish structure would only be confirmed if ZRO can overcome the next major resistance at $2.59, a level that could act as a decisive trigger for an expanding rally.

Beyond that, the chart still leaves room for a deeper move into higher territory, with upside levels extending as far as $3.67, based on marked resistance zones.

Community conviction stays elevated

Market sentiment around ZRO has strengthened further, pointing to growing conviction among holders and traders.

Community sentiment data from CoinMarketCap shows a notable increase in bullish votes, reflecting a more optimistic market narrative around the asset.

ZRO community sentiment chart

Source: CoinMarketCap

At press time, roughly 65% of voters, representing about 23,800 participants, have expressed a bullish outlook, anticipating further upside.

However, while sentiment indicators help gauge crowd psychology, they do not guarantee price direction and should be weighed alongside technical and liquidity data.

Final Thoughts

  • ZRO attracts heavy capital inflows as long positions gain dominance.
  • Market structure provides key levels price must overcome to become decisively bullish.
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