LayerZero Price Retests Support on Fourth Rejection

ZRO has been turned away at its 20-day average four times since the May top The $0.755 floor from June is the level that decides the next leg Three declining peaks keep the sequence of lower highs intact RSI is weak but not oversold, leaving room for a bullish divergence LayerZero (ZRO) is trading at $0.774 on the daily chart, down 5.38% on the session and more than 9% on a rolling 24-hour basis after another failed push toward its 20-day average, and the token is now sliding back toward the $0.755 support that has held its downside together since June. It is the fourth time since the May top near $1.50 that sellers have stepped in at the same moving average, and that repetition is what gives today’s session more weight than the percentage move on its own. Buyers lifted the token as high as $0.839 in early trade. The offer got taken every step of the way back down, and the candle closed within a fraction of a cent of its $0.770 low. Four attempts at the 20-day line, four failures Every rally off the May high has run straight into the 20-day simple moving average and rolled over there. That average now sits at $0.834, with the 50-day above it at $0.879, and both have been sloping down in step for weeks. Price is pinned beneath the pair, with the faster average stacked under the slower one. When the moving averages line up in that order and the token cannot reclaim either of them, sellers keep the advantage by default. Source: ZROUSD chart from TradingView by Alexander Stefanov Three peaks, each one lower than the last The price structure underneath those averages tells the same story in a cleaner way. The first bounce stalled around $1.22, the next topped near $1.06, and the most recent one died at $0.975 before this week’s reversal. Each recovery has been shallower than the one before, and none has managed to climb back onto the shelf it fell from. Lower highs, textbook and unbroken, and that is why $0.975 carries more meaning than a random round number. Until ZRO closes back above it, that sequence holds and the broader trend does not change.