LayerZero’s ZRO token faces resistance at $2.1376 and $2.2705 on the daily chart, with a possible $2.30 retest dependent on clearing both ahead of a scheduled token release.
The reading was timestamped Friday, Oct. 16, at 1:46 p.m. ET (17:46 UTC). It also placed support at $1.9897 and $1.9076, with the latter the next lower chart marker. The relative strength index (RSI) stood at 57.9 on the daily timeframe and 49.1 over four hours. Five of seven indicator groups were bullish, one was neutral and one was bearish; the 50-day moving average was above the 200-day average. These readings describe chart conditions and do not ensure ZRO will trade at $2.30.
LayerZero’s repurchases through its September 2026 entry totaled 2,537,790 ZRO, with a cumulative cost basis of $3,680,825. September purchases accounted for 162,433 ZRO at $351,543. Stargate revenue is designated for buybacks, while the protocol fee switch remains inactive. Past purchases do not indicate whether future buybacks will balance the scheduled release.
Tokens are scheduled to become available to recipients Tuesday, Oct. 20, at 1:33 a.m. ET (05:33 UTC). The schedule gives the availability date but does not show how many tokens recipients will sell.
