LayerZero surged 23% in a single day, defended the $2 level, and reached a local high of $2.25 amid renewed speculative demand. Open Interest rose 31% to $275 million and derivatives volume increased 63% to $336 million. However, over $26 million flowed into exchanges, signaling aggressive profit-taking that is creating selling pressure. On October 20th, 25.7 million ZRO will unlock, worth approximately $56.5 million, threatening the rally’s long-term sustainability. The MACD and RVGI indicators remain bearish, suggesting downward pressure is still strong and ZRO could fall below $2 if current conditions persist.
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