Market Overview: ZROBTC in 24-Hour Range

Summary
• Price drifted lower with a bearish engulfing pattern forming in early morning hours.
• Volume surged during the 02:00–04:30 ET window, coinciding with a sharp price decline.
• RSI indicates moderate oversold conditions, while MACD remains negative with no clear divergence.
• Price tested the 1.507e-05 support twice, with a potential next level at 1.485e-05.

Market Overview

The LayerZero/Bitcoin (ZROBTC) pair opened at 1.548e-05 on 2026-01-04 at 12:00 ET, reached a high of 1.551e-05 and a low of 1.476e-05, and closed at 1.476e-05 on 2026-01-05 at 12:00 ET. Total volume traded was 15,445.48 units, with notional turnover of 0.2336 BTC.

Structure & Formations

Price action over the 24-hour period shows a consistent bearish trend, with multiple lower closes and a bearish engulfing pattern emerging between 02:00 and 03:00 ET. A key support level appears to be forming at 1.507e-05, with a potential next target at 1.485e-05.

Moving Averages and Bollinger Bands

On the 5-minute chart, the 20-period and 50-period moving averages are in a bearish crossover, reinforcing the downtrend. Volatility remains elevated, with price frequently trading near the lower Bollinger Band, indicating increased bearish pressure.

Volume and Turnover

Volume spiked sharply during the early morning hours, especially between 02:00 and 04:30 ET, as price dropped from 1.548e-05 to 1.507e-05. Turnover rose in tandem with volume, suggesting active bearish participation during that window.

Momentum and Fibonacci

The RSI reached an oversold level of 32.5 at 03:30 ET but failed to reverse, indicating a possible continuation of the decline. Fibonacci retracement levels suggest a possible bounce around 1.499e-05 (38.2%) or 1.485e-05 (61.8%) in the near term.

Moving forward, a test of 1.485e-05 may offer further insight into the depth of the current bearish phase. Investors should remain cautious for potential volatility if the price reacts strongly to that level.