Market Overview for LayerZero/Bitcoin (ZROBTC) – 2025-10-12

• Price fell from 1.696e-05 to 1.58e-05 during the 24-hour period
• A bearish channel formed as price remained below 1.622e-05 resistance
• Key support tested at 1.58e-05, 1.557e-05, and 1.545e-05
• Volume spiked to over 5,695.38 during the final 15-minute window
• RSI suggests oversold conditions, but momentum remains bearish

The LayerZero/Bitcoin (ZROBTC) pair opened at 1.619e-05 at 12:00 ET − 1 and closed at 1.696e-05 by 12:00 ET the same day. The 24-hour period saw a high of 1.701e-05 and a low of 1.545e-05. Total volume was 56,642.89, and notional turnover stood at approximately 1.05 BTC equivalent.

Structure & Formations

Price action over the 24-hour period showed a bearish bias, with a key resistance level at 1.622e-05 repeatedly failing to hold. A series of lower highs and lower lows, especially after 19:00 ET, confirmed a descending channel. A notable bearish engulfing pattern formed at the start of the 15:00 ET session, followed by a doji at 18:45 ET, which may signal indecision among traders.

Moving Averages

On the 15-minute chart, the 20-period moving average moved below the 50-period line, confirming a bearish crossover. This reinforced the downward trend. On the daily chart, while the 50-period MA held above the 100-period and 200-period lines, the declining trend of the 50-period MA suggested weakening bullish momentum.

MACD & RSI

The MACD line remained below the signal line for most of the session, with bearish divergence evident in the histogram. RSI dipped below 30 on several occasions, particularly at the end of the session, signaling oversold conditions. However, the inability of price to rebound above 1.622e-05 despite oversold readings suggests weak follow-through buying pressure.

Bollinger Bands

Volatility expanded significantly during the last 3 hours of the session, with price touching the upper band at 1.701e-05. Earlier in the day, from 15:00–19:00 ET, the bands contracted, suggesting a potential breakout. However, the breakout was short-lived and failed to hold above 1.622e-05. The current price of 1.696e-05 is near the upper band, indicating a high-volatility environment.

Volume & Turnover

Volume surged during the final 15-minute candle at 16:00 ET, with 4,787.9 units traded and a high of 1.701e-05. This volume spike coincided with a price increase of 0.005e-05, suggesting some accumulation at the upper end. However, the lack of follow-through volume beyond 1.622e-05 raises concerns about conviction.

Fibonacci Retracements

Applying Fibonacci levels to the major move from 1.701e-05 to 1.545e-05, the 61.8% level is at 1.591e-05. Price tested this area multiple times during the session, most recently at 09:45 ET, and failed to break through. The 38.2% level at 1.636e-05 was also a key point of resistance, reinforcing the bearish trend.

Backtest Hypothesis

The described backtesting strategy focuses on short-term countertrend trades using overbought and oversold RSI levels alongside volume confirmation. Given the current RSI readings dipping below 30 and the recent volume spikes near the 1.701e-05 high, a potential short-term bounce could offer entry points for a bullish countertrend trade. However, without strong follow-through volume above 1.622e-05, a bearish continuation remains more likely. A test of the 1.591e-05 level could offer a better risk-reward setup for bearish entries.

Looking ahead, investors should closely monitor 1.622e-05 as a key level. A sustained break above could signal a shift in sentiment, while a retest of 1.58e-05 and below would confirm a deeper bearish phase. As always, volatility and volume should be watched for confirmation of any directional move.