LayerZero’s native token, ZRO, surged by 14.42% as trading volumes picked up, bringing the asset close to the $1.20 resistance level. At the time of reporting, ZRO traded around $1.16, while its 24-hour trading volume rose 15.46% to approximately $115.9 million. The simultaneous increase in price and volume supported the recovery, moving the token off its recent lower trading range.
Derivatives markets also reflected heightened activity. Open Interest (OI) climbed 15.75% to reach $126.33 million, indicating that fresh positioning accompanied the price rally. Data from CoinGlass showed that Binance top traders leaned heavily toward long positions, with 79.75% holding longs compared to 20.25% holding shorts, resulting in a Long/Short Ratio of 3.94.
From a technical standpoint, ZRO confirmed a breakout above the descending channel that had guided its prolonged decline since March. The move pushed the price back above the $1.00 psychological level, turning a previous resistance point into support, and advanced toward an immediate daily resistance level at $1.255. Additional resistance zones sit at $1.545 and the larger $2.00 supply zone.
Despite the bullish momentum, the Relative Strength Index (RSI) surged to 81.23, placing the indicator firmly in the overbought zone and raising the likelihood of near-term exhaustion or pullback risks. Analysts note that holding above the $1.00 support level is crucial to preserving the technical breakout, while tests at the $1.255 resistance will determine whether buyers can extend the recovery.
