Layer Zero Price Prediction: Will ZRO Price Hit $10 This Crypto Bull Run?

The cryptocurrency market has recorded a negative price action with top crypto tokens recording a drop in their respective portfolios. Furthermore, the market leader, Bitcoin price has dropped 1$ and is currently trading with a price tag of around $66,500.

Following this, Layer Zero has displayed a similar price action by recording a drop in its portfolio over the past few hours. With the rising volatility, will ZRO price regain momentum and record a new all-time high (ATH) during the upcoming weeks?

Layer Zero (ZRO) Price Action:

In spite of experiencing a drop of approximately 5% within the past day with a trading volume of $280.55 Million, the ZRO price has surged 16.72% over the past seven days and 82.74% since its inception.

With a trading price of $4.943, a circulating supply of 110 Million ZRO tokens, and a total supply of 1 Billion tokens, the Layer Zero price has secured the 120th position with a market capitalization of $530.082 Billion.

The technical indicator, SMA, displays a potential bullish convergence in the 1D time frame, suggesting increased bullish sentiment in the crypto space.

Moreover, the Moving Average Convergence Divergence (MACD) shows a constant decline in the red histogram with its averages recording a decreased bearish sentiment. This highlights a high possibility of a bullish reversal in the coming time.

Will ZRO Price Record A New All-time High This Month?

If the market regains momentum, the Layer Zero price will prepare to test its all-time high (ATH) of $5.570 during the upcoming weeks.

Conversely, if the bears regain momentum, the ZRO price will retest its support level of $4.525. Furthermore, if the bears continue to dominate the market, the Layer Zero price will plunge toward its lower support level of $3.50 in the coming time.