$ZRO staged a strong rebound, surging about 23% intraday, climbing back above $2 and touching a local high of $2.25.
The rebound was driven by an inflow of funds: open interest in futures contracts jumped 31% in a single day, the long-short ratio rose above 1 across the board, and long positions were clearly rebuilt.
However, significant risks remain: heavy profit-taking sent more than $26 million to exchanges in a single day. On October 20, 25.7 million ZRO (about $56.5 million) will be unlocked. Historically, double-digit pullbacks have occurred after unlocks. If selling pressure persists, the price could fall below $2 and retest support at $1.8.
(Source: AMBCrypto)
⚠️Risk warning: The above is shared for informational purposes only and does not constitute investment advice. Investing involves risks; please exercise caution.
#ZRO #LayerZero
The rebound was driven by an inflow of funds: open interest in futures contracts jumped 31% in a single day, the long-short ratio rose above 1 across the board, and long positions were clearly rebuilt.
However, significant risks remain: heavy profit-taking sent more than $26 million to exchanges in a single day. On October 20, 25.7 million ZRO (about $56.5 million) will be unlocked. Historically, double-digit pullbacks have occurred after unlocks. If selling pressure persists, the price could fall below $2 and retest support at $1.8.
(Source: AMBCrypto)
⚠️Risk warning: The above is shared for informational purposes only and does not constitute investment advice. Investing involves risks; please exercise caution.
#ZRO #LayerZero