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LayerZero’s price is down 23% in the last 24 hours of trading $3.13 As of 4.45am EST trading volume had risen to $645 million.
ZRO’s price drop came right after its launch yesterday. The LayerZero Foundation announced the launch, reminding the community that its supported chains include Ethereum, Arbitrum, Optimism, Base, Polygon, BNB Chain, and Avalanche.
Claim ZRO live.https://t.co/BjBvTMRJjJ
Supported chains: Ethereum, Arbitrum, Optimism, Base, Polygon, BNB Chain, and Avalanche. pic.twitter.com/k2Fv2UKMoB
— LayerZero Foundation (@LayerZero_Fndn) June 20, 2024
Over the past few weeks, the project has also announced several partnerships and integrations for LayerZero with other projects, including Taiko, P-OPS Team, BounceBit, Iskra, Symbiotic, and others.
However, the project had the misfortune of being launched at the beginning of the recent bearish wave, which saw a wide range of cryptocurrency prices decline.
This means that it has a good chance of a rebound if the current correction ends.
LayerZero price prediction
LayerZero price saw a strong correction after the launch, but this could provide an opportunity for traders. Overall, the project has seen many partnerships and integrations, as mentioned, which means it has excellent connections and great potential. However, bearish sentiment soon overcame its price.
Once it hits the bottom – which it may have already happened – it may bounce back and gain strong momentum as traders move to buy the dip.
The token launched at around $4.09, only to see it rise to $4.7 in the first few hours. After that, its value began to decline until it reached $3.13. With seemingly strong support at $3.10, the price of ZRO is unlikely to continue to fall much.
However, technical indicators still indicate that the market is strongly bearish at the moment. For example, the token’s Bollinger Bands have seen a sharp tightening in the past few hours, which is a bearish signal.
On the other hand, the project’s Relative Strength Index (RSI) value started to rise after falling to the oversold zone a few hours ago. It is currently in the neutral zone at 54.35, indicating that traders have started buying.
This could mean that the price action will change soon as well, and as buying pressure increases, the value of the token will also change.
While ZRO has strong breakout resistance on its way to recovery, a shift in market sentiment will likely allow the token to see a strong recovery in the coming hours or perhaps days.
A promising alternative to LayerZero
While LayerZero’s decline represents a good opportunity to buy the dip, there are better but currently less risky options for those seeking to make money in the cryptocurrency sector, which is to invest in a high-tech meme coin like Winner Eye (WAI).
WienerAI is a meme coin that combines a dog, a sausage, and artificial intelligence. The project is a meme coin only on the surface. Beneath the funny design and laid-back attitude lies one of the most advanced AI-powered trading companions in the industry to date.
Dubbed “ChatGPT for cryptocurrencies,” WienerAI’s upcoming trading bot will revolutionize trading, enabling new and experienced traders to quickly find the best opportunities in the market.
The robot uses predictive technology to deduce the most profitable opportunities in the market at any given moment and suggest them to the trader.
Think of WienerAI as the ChatGPT of cryptocurrencies.
Not only will the bot find winning trades with unparalleled accuracy and provide helpful reasons for its suggestions, but WienerAI is Swap-Enabled, meaning you never have to leave the app to make your trades. (3/4) pic.twitter.com/5HFpCmVOHh
– WienerDogAI (@WienerDogAI) June 11, 2024
Crypto YouTube channel 99Bitcoins, which has over 705,000 subscribers, says the project has 50 to 100 times the potential.
The WAI pre-sale has already raised over $6.1 million and is one of the most successful pre-sales of the year. Since WAI is not yet listed, it could also offer upside potential while being immune to current market volatility.
WAI tokens are currently priced at $0.00072 and can be purchased using ETH, BNB, USDT, or credit/debit card. Act soon if you’re interested because the price hike is coming in less than seven hours.
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