LayerZero/Bitcoin Market Overview: ZROBTC 24-Hour Technical Review

• Price for LayerZero/Bitcoin (ZROBTC) drifted lower by -1.05% over 24 hours, closing at 1.865e-05.
• Volatility remained muted, with Bollinger Bands contracting, but a sharp sell-off emerged after 02:00 ET.
• Negative momentum intensified as RSI dipped into oversold territory and MACD turned bearish.
• Key support tested at 1.86e-05 after a 1.91e-05 resistance failure.
• Volume surged during the post-midnight selloff but declined in the final 6 hours.

ZROBTC opened at 1.867e-05 on October 4, 2025 (12:00 ET – 1), and fluctuated slightly through the early hours before drifting lower, reaching a high of 1.91e-05 and a low of 1.847e-05 before closing at 1.865e-05 at 12:00 ET on October 5. Total volume for the 24-hour window was 19,674.38, while turnover amounted to roughly $362,798. The price action reflected a bearish bias with multiple breakdowns below key intraday resistance levels.

Structure & Formations

ZROBTC displayed a bearish trend throughout the 24-hour window, with three distinct price declines after midday on October 4. A key bearish pattern emerged between 19:30 and 20:00 ET (2025-1004), where a bullish engulfing pattern was followed by a sharp bearish reversal. This signaled a potential top near 1.898e-05. Later, a hanging man pattern formed at 00:45 ET (2025-1005), suggesting further downward momentum. Price found temporary support at 1.86e-05, but a long lower shadow on the 05:00 ET candle indicated rejection.

Moving Averages

On the 15-minute chart, the 20-period SMA crossed below the 50-period SMA, reinforcing bearish momentum. Over the daily timeframe, while the 50-period SMA was slightly above the 200-period, the 100-period SMA was already below the price, indicating a weakening trend. The price remained below all major moving averages, signaling a lack of immediate support from trend-following indicators.

MACD & RSI

The MACD turned negative at 02:00 ET, confirming a shift in momentum to the bearish side. By 04:45 ET, RSI had fallen into oversold territory, hitting a low of 29.9. This suggests potential for a short-term bounce, though without a clear breakout above 1.87e-05, the bearish pressure could continue. Divergence between RSI and price was noted during the final hours, where RSI started to rise slightly while the price remained in consolidation. This could indicate a potential reversal in the near term.

Bollinger Bands

Volatility remained relatively low throughout the 24-hour period, with the Bollinger Bands contracting between 19:00 and 00:00 ET. Price action remained within the bands but shifted closer to the lower band after the 02:00 ET sell-off, indicating increased bearish pressure. A sharp break below the lower band occurred between 05:00 and 05:45 ET, with the price hitting a low of 1.847e-05, a significant deviation from the 20-period volatility range.

Volume & Turnover

Volume spiked at 00:30 and 02:30 ET, coinciding with sharp downward moves. The highest volume candle was at 00:30 ET, where a large sell-off of 1,728.65 units moved price from 1.886e-05 to 1.877e-05. However, the final hours showed a decline in volume and turnover, with price consolidating in a tight range below 1.87e-05. This suggests potential exhaustion in the current bearish trend.

Fibonacci Retracements

Applying Fibonacci to the recent swing from 1.847e-05 to 1.91e-05, key levels include 38.2% at 1.881e-05 and 61.8% at 1.863e-05. The 61.8% level appears to be holding as a critical support zone. Price briefly bounced off the 61.8% level after 05:45 ET, and a test of this level could trigger a short-term reversal or consolidation phase. A break below 1.86e-05 would expose the next level at 1.85e-05.

Backtest Hypothesis

A potential backtesting strategy could involve entering a short position upon a 15-minute close below the 20-period SMA, combined with RSI crossing below 30 and a bearish MACD crossover. Stops could be placed just above the 1.87e-05 level, with a target near the 1.85e-05 Fibonacci level. This approach aligns with the observed bearish momentum and key support levels identified in the 24-hour analysis. Initial testing should focus on high-volume timeframes, particularly between 00:00 and 06:00 ET, where trend confirmation and momentum signals were strongest.