LayerZero Partners Send $14.98M in ZRO to Coinbase Prime

LayerZero, a company that specializes in cross-chain infrastructure, has made a significant move in the crypto market. According to blockchain.news, the company's strategic partner multisig wallets transferred 40.57 million ZRO tokens, valued at $73.02 million, to two addresses one year ago. This week, those same addresses transferred 8 million ZRO tokens, worth $14.98 million, into Coinbase Prime.

The transfer comes at a time when the ZRO token price is stable, trading at $1.79 within its Bollinger bands. The upper resistance is set at $1.92, while the lower support is at $1.62. The 50-EMA sits at $1.65, serving as a concrete support zone, while the 200-EMA rests at $1.32.

The Relative Strength Index (RSI) is at 53.94, indicating neutral momentum, but the Moving Average Convergence Divergence (MACD) death cross at 0.05 signals a fading trend strength. This suggests that any ZRO price prediction must account for a likely retracement toward the 50-EMA before continuation.