From 1000% gains to a pullback — is ZORA ready to reclaim $0.10? | Credit: Hameem Sarwar
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Key Takeaways
ZORA’s explosive breakout followed Coinbase Base integration and Binance Alpha watchlist hype.
Buyer momentum remains strong, with CMF above zero and holder distribution rising to 94.73%.
Continued holder accumulation suggests the pullback may be short-lived, with $0.16 as a next target.
After exploding more than 1,000% in just a month, ZORA reached a new all-time high of $0.10 on July 27.
The altcoin—tied to a project that lets users monetize their social media posts—quickly became one of the most talked-about tokens in the market.
However, the hype may be cooling. As of today, ZORA has slipped 15% from its peak, leaving traders wondering: Was that the top or just a pause in a bigger move?
In this analysis, CCN breaks down what fueled ZORA’s meteoric rise and what may be next for the altcoin as it settles into new price territory.
ZORA Hits New High, Then Drops
After weeks of tight-range trading, ZORA’s price snapped out of consolidation on Sunday, July 20, hitting $0.055 by July 24. However, that was just the warm-up.
The real move came when ZORA broke out of a symmetrical triangle on the 4-hour chart, soaring the price to $0.10.
A bullish Chaikin Money Flow (CMF) reading — now above the zero line — confirmed the rally was fueled by real buyer momentum.
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The AO’s current position hints that momentum may switch from bullish to bearish. A deeper correction could be possible if this position holds, especially if volume dries up.
Demand Not Fading
Meanwhile, despite this decline, Nansen data shows that the number of ZORA holders has been climbing. Last week, holders held 91.32% of the total supply.
As of this writing, that figure has increased to 94.73%, indicating that cryptocurrency demand has increased. If sustained, then the ZORA price correction might not last.
Instead, the market value might rebound in the short term.
On the daily chart, CCN observed that the Bull Bear Power (BBP) has formed higher histogram bars.
The rise in the BBP reading indicates that bulls (buyers) still have the upper hand despite the recent decline.
Besides that, the green line of the Supertrend is below the altcoin’s market value. This Supertrend position indicates strong support for the cryptocurrency.
Should this trend continue, ZORA’s price might retest the all-time high at $0.10.
In a highly bullish scenario, bulls might push the token to a new all-time high of $0.16.
On the other hand, if selling pressure increases, this might not happen. In that scenario, ZORA might slide to $0.068 at the 0.618 golden pocket ratio.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
