#LayerZero : BullRun Preparation ⁉️
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Layer Zero has seen a 15% increase in price over the last 24 hours.
The price action is strong, but the speaker is slightly worried about a potential sell-off
❤️🔥 Fundamental Analysis
Layer Zero is arguably undervalued with a market cap of $400-450 million, not even in the top 100
The project has big funds backing it, such as Andreessen Horowitz, Coinbase Ventures, and others
❤️🔥 Technical Analysis
The momentum is bullish, but the open interest is still relatively low
The speaker expects the momentum to continue or the price to come down to balance out
The RSI has hit a significant level, and the speaker is bullish overall
❤️🔥 Price Targets
The next price target is $5, with potential targets at $4.4, $5, and $5.5
The speaker expects Bitcoin to gain momentum and not crash in the next 24 hours
❤️🔥 Market Structure
The big question is whether the current price action is a double top or a new trend
The speaker doesn't see enough bearish confirmation to call it a double top
A potential spike down to $3.7 is possible, but the speaker expects the price to break above and rally up to $5 and $5.5 if momentum is maintained
$ZRO $BTC #LayerZero_Labs #LayerZero #CPIAlert #BinanceTurns7
