LayerZero adds 24.7 million ZRO tokens today, expanding the circulating supply during bearish price action and reducing upside prospects.
Technical support at $1.77–$1.79 is critical as ZRO faces downward pressure with low volume and weakening RSI momentum.
The ongoing unlock schedule through 2027 may introduce repeated market pressure as early investors access and potentially sell tokens.
LayerZero is releasing approximately 24.7 million ZRO tokens into circulation today, valued at around $47 million. This scheduled token unlock marks a significant expansion of supply for the interoperability protocol, increasing pressure on an already fragile market. The current circulating supply only accounts for 11% of the total 1 billion token allocation, highlighting the scale of this release.
The timing of the token release coincides with a notable downtrend in ZRO’s market performance. The token is trading at $1.80, reflecting a 2.06% decrease in the last 24 hours. This recent movement follows a short-lived rally where ZRO peaked above $1.92, only to reverse into a pattern of lower highs and lower lows. Market participants have started watching critical support at $1.77 to $1.79 closely, as any breach could send prices lower toward $1.74.
Resistance Remains Firm
Resistance levels have formed between $1.85 and $1.87, with stronger selling pressure near the $1.92 zone. For ZRO to regain bullish momentum, these resistance points would need to be surpassed decisively. However, technical signals suggest market sentiment is still leaning bearish, dampening any immediate recovery hopes.
The volume of trading decreased to about 30% in the last 24 hours, making up $31.33 million at present. This decline in action could mirror that of less interest among short-term traders or profit-taking following the recent rally. The market cap is currently at 197.11 million dollars, putting the token in the rather small-cap group among the cryptos.
Momentum Tools Sound Warning
The Moving Average Convergence Divergence (MACD) is also in the negative position, and the MACD line is at 0.0448, and the similar line is in-depth under the MACD line at 0.2014. The setup indicates the continued selling pressure. At the same time, the Relative Strength Index (RSI) is also 41.79, which reflects weak demand but not oversold.
This month’s token release is part of a broader unlocking schedule planned through May 2027. Regular monthly emissions are expected, which could maintain selling pressure and keep market conditions volatile for the foreseeable future.
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