LayerZero (ZRO) has recently pulled back after a bullish rally, leaving traders anticipating its next move. CrediBULL Crypto, a prominent analyst, has exited his position near entry, eyeing a potential re-entry between $1.40 and $1.50. While the price has faced a lackluster response off the local demand zone, CrediBULL remains optimistic about $ZRO’s long-term potential. The coin is still expected to clear untapped lows before any further upward momentum, with a target range high of $3.70.
ZRO has recently encountered a pullback after an impressive rally, which has left traders and analysts closely monitoring its next moves. CrediBULL Crypto, known for its precise market analysis, pointed out that $ZRO is currently trapped in a tight range.
Following the pullback from the local demand zone, CrediBULL has exited its position near the entry point. He highlighted that if $ZRO pulls back further, it could potentially reach untapped lows, specifically between the range of $1.40 and $1.50, which he considers a key buying zone.
Traders are watching closely as $ZRO’s price action is still constrained by the broader market, especially with $BTC remaining in a narrow trading range on lower timeframes (LTF). CrediBULL’s decision to exit his position is based on the current pullback dynamics, but he remains hopeful for a re-entry at the lower price levels, where the asset might find stronger support.
Despite the recent pullback, CrediBULL Crypto remains bullish on $ZRO’s long-term outlook. He pointed out a clean bullish order block (OB) that is expected to act as support for a continuation to the range highs. This bullish OB could serve as a key level for price stabilization and a potential reversal to the upside. If the support holds, $ZRO could continue its upward trajectory, with the ultimate target for the asset remaining at $3.70.
Traders and analysts are monitoring the market structure closely, especially as $ZRO approaches its support levels. If the coin manages to maintain its bullish structure, a future rally could bring it back to its target range high. CrediBULL’s analysis continues to guide traders as they prepare for the potential re-entry point around $1.40-$1.50.
