Key Takeaways
LayerZero is an interoperability protocol, which can be considered a Layer-0. It launched in June 2024 through an airdrop. While the price fell immediately after its launch, it has regained its footing since and reached a new all-time high in July.
On Nov. 20, 2024, ZRO was worth about $3.55.
Let’s now look at our price predictions for LayerZero, made on Nov. 20, 2024. We will also examine the ZRO price history and discuss what ZRO is and does.
Here are the ZRO price predictions from CCN on Nov. 20 2024. It is important to remember that price forecasts, especially for something as potentially volatile as crypto, are often wrong.
Minimum ZRO Price Predictions | Average ZRO Price Predictions | Maximum ZRO Price Predictions | |
---|---|---|---|
2025 | $2.50 | $4.50 | $7 |
2026 | $3 | $6 | $9.50 |
2030 | $5 | $10 | $18 |
The ZRO price is expected to continue recovering from the prolonged corrective structure, with bullish momentum gaining traction post-breakout from the symmetrical triangle. However, with potential market volatility, the price could face challenges in surpassing the $7 mark, while a minimum of $2.50 is likely supported by strong accumulation zones established earlier.
By 2026, ZRO is projected to benefit from a fully formed impulsive wave, building upon the previous year’s bullish sentiment and market growth. With improved market conditions and adoption, an average price of $6 is achievable, while a drop to $3 could occur if broader market corrections emerge.
Long-term growth potential for ZRO hinges on its ability to solidify its market position and align with broader blockchain trends. By 2030, the price could reach an average of $10, supported by continued network developments. $18 represents the peak under ideal conditions, and $5 reflects potential global economic headwinds or project stagnation.
ZRO’s daily chart highlights a prolonged symmetrical triangle pattern that has formed since its peak at $5.64 in late July 2024. This corrective phase has developed into an ABCDE structure, consolidating the price to around $3.50. The RSI reflects neutral momentum, indicating indecision as ZRO trades within this consolidation phase.
The current wave E appears to be nearing completion, signaling a potential breakout. A bullish breakout could see ZRO resuming its prior uptrend, while a breakdown below support may test the $2.50 to $2.80 range.
The hourly chart reveals that ZRO is nearing the completion of a corrective ABC wave within the symmetrical triangle. The current wave C targets the ascending support near $3.14, aligning with the length of wave A. A bounce from this level could initiate a bullish breakout, targeting $4.20 and $4.50 as immediate upside levels.
However, failure to hold above $3.14 might lead to a bearish breakout, with further declines toward $2.98 or lower.
Momentum remains balanced, and the breakout direction will determine the LayerZero price prediction for the next 24 hours.
The Average True Range (ATR) measures market volatility by averaging the largest of three values: the current high minus the current low, the absolute value of the current high minus the previous close, and the absolute value of the current low minus the previous close over a period, typically 14 days. A rising ATR indicates increasing volatility, while a falling ATR indicates decreasing volatility.
On Nov. 20, 2024, the ATR for ZRO was 0.124, a sign of average volatility.
The Relative Strength Index (RSI) is a momentum indicator traders use to determine whether an asset is overbought or oversold. Movements above 70 and below 30 show over and undervaluation, respectively. Movements above and below the 50 line also indicate if the trend is bullish or bearish.
On Nov.20, 2024, ZRO’s RSI was at 43, indicative of a bearish trend.
The CCN Strength Index combines an array of advanced market signals to quantify the strength of individual cryptocurrencies over a recent 30-day period.
Every day, it assigns a strength score, ranging from 0 to 100, to the top 500 assets by market capitalization on CoinMarketCap, focusing on both trend direction and the intensity of price movements.
The index dynamically adapts to rapid changes. For example, an asset experiencing a 100% increase within a short timeframe would see a sharp jump in its score to reflect the intensity of the rise.
However, should that asset stabilize at this new price level, the score will gradually taper down and align with the dampened momentum as the movement normalizes. The same principle applies to rapid declines: a sudden drop will spike the score downward, but as volatility decreases, the score will slowly adjust back up.
On Nov. 20, 2024, LayerZero scored 27.8 on the CCN Index, suggesting fairly weak momentum.
ZRO is an interoperability protocol, so let’s compare its performance with other similar projects.
Let’s now look at the admittedly brief ZRO price history. While past performance should never be taken as an indicator of future results, knowing what the token has done can help give us some very useful context when it comes to either making or interpreting a ZRO price prediction.
Period | ZRO Price |
---|---|
Last Week (Nov. 13, 2024) | $3.94 |
Last Month (Oct. 20, 2024) | $4.07 |
Three Months Ago (Aug. 20, 2024) | $3.55 |
Launch Price (June 21, 2024) | $3.42 |
All-Time High (July 22, 2024) | $5.57 |
All-Time Low (June 27, 2024) | $2.47 |
The market capitalization, or market cap, is the sum of the total number of ZRO in circulation multiplied by its price.
On Nov.20, 2024, ZRO’s market cap was $287 billion, making it the 159th-largest crypto by that metric.
On Nov. 20, 2024, a wallet linked to the Binance exchange held nearly 25% of the ZRO supply.
On Nov. 20, 2024, the five addresses with the most ZRO were:
Supply and Distribution | Figures |
---|---|
Maximum Supply | 1,000,000,000 |
Circulating Supply as of July 26, 2024 | 110,000,000 (11% of maximum supply) |
Holder Distribution as of July 26, 2024 | Top 10 wallets held 50.89% of the maximum supply as of Nov. 20 2024 |
In its technical documentation or whitepaper , LayerZero describes itself as “an intrinsically secure and semantically universal omnichannel interoperability protocol designed to achieve frictionless, blockchain-agnostic interoperation. It utilizes an immutable endpoint, append-only verification modules, and a fully configurable verification infrastructure, providing robust security and extensibility. This protocol supports many blockchains and use cases through its trust-minimized modular security framework.”
LayerZeo is an interoperability protocol. It connects different blockchains and helps developers build applications and tokens that operate seamlessly across various blockchains.
LayerZero uses immutable endpoints and adjustable verification modules to enable communication between different blockchains. Its modular security framework allows for cross-chain interactions.
It is difficult to say. Since LayerZero only launched in June, it does not have ample price history to base predictions on. Nevertheless, there aren’t many interoperability protocols, so LayerZero does not face stiff competition. On the other hand, it hasn’t updated its Twitter since September, which may cause some concern.
No one can really say with any certainty. While price prediction sites seem optimistic, it is worth noting that they are based on the theory that markets will go up over time, so it is unclear how accurate they will be. Remember, too, that price predictions very often end up being wrong and that prices can, and do, go down and up.
Before you decide whether or not to invest in ZRO, you should do your research. Remember that prices can go down as well as up, and never invest more money than you can afford to lose.
Technical analysis by Nikola Lazic.
Our price predictions suggest that ZRO is unlikely to reach $100 in the near future.
ZRO is the native token of the ZRO Protocol, used to pay fees in the ecosystem. It can also be used for staking governance and to incentivize participants to maintain the network’s performance.