LayerZero price has maintained upward momentum today, extending its weekly rally to 21.34% following a 14.62% jump over the last 24 hours. While the broader market faced significant selling pressure, ZRO decoupled from the trend, trading firmly against a backdrop of declining majors.
The move comes as the cross-chain interoperability protocol announced it will release a major event on February 10, a catalyst that has drawn immediate buyer interest despite deteriorating global sentiment.
LayerZero Teases Major February Event as Macro Pressure Mounts
The main catalyst for the rally in ZRO price is the official confirmation of the upcoming milestone, scheduled for the 10th of February. This has contributed to a localized market environment that has insulated the token from the ‘risk-off’ sentiment driven by rising global tensions.
Markets are now dealing with the aftereffects of U.S. tariffs imposed on European countries, as well as the geopolitical tension over the purchase of Greenland. All these, in addition to record-high Japan bond yields, have contributed to the low demand for risk assets.
Even as the total market cap declined by 2.43% and Bitcoin dropped below $90,000, ZRO topped the list of gainers. The global correction pushed Ethereum below the $3,000 psychological mark, though LayerZero’s ecosystem-specific news helped it continue its upward path.
At this point, traders are placing more emphasis on the February event than on sector weakness.
ZRO Price Pushes Toward Range Highs as Momentum Firms
LayerZero price has pressed toward the top of its recent structure. On shorter timeframes, price is trading near the upper Bollinger Band at $2.00, with the lower band at $1.63 framing the recent expansion. RSI has climbed toward the high-60s, showing strong momentum but little room for error if buying cools.
Moving averages are split. Shorter-term averages sit below price and continue to slope higher, while longer-term averages above remain unresolved, keeping the broader trend in contention. MACD and momentum readings lean positive, but not aggressively so, suggesting follow-through depends on continued volume.
World of Charts highlighted a break from a long-term descending structure, noting that holding above former resistance could open the door to a larger upside move. Price action since then shows buyers defending pullbacks near prior support around the mid-$1.70s, while sellers remain active near the $2.00 area.
Despite the strength, the risk of a dead cat bounce cannot be ignored. A dead cat bounce is a brief, misleading recovery within a larger downtrend, often followed by renewed weakness. With the broader crypto market taking a breather, the LayerZero price may be vulnerable if macro pressure persists and volume fades.
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