LayerZero (ZRO) is climbing back toward $2, trading around $1.85 on Kraken’s daily chart and gaining about 6.1% against the previous close at 21:02 UTC on October 1. The move follows months of declines and a summer base, with the token clearing its August trading ceiling and establishing a higher low and higher high associated with an emerging uptrend.
On the technical side, ZRO’s break above $1.20–$1.30 carried price through the early August resistance area and the 200-day simple moving average near $1.248. Buyers have since defended $1.55–$1.65, and ZRO now approaches the $1.90–$2.00 resistance zone, where it traded before April’s sharp decline. A daily close above $2, followed by a successful retest, would strengthen the breakout case, with the next visible historical trading region around $2.20–$2.40. The 14-period RSI is near 77.9, reflecting rapid momentum but also the risk of an overbought pullback.
LayerZero’s recent announcements provide fundamental context. On September 21, LayerZero said Anchorage Digital had selected it as the preferred provider of cross-chain connectivity for its stablecoin issuance platform, with USAT identified as the first Anchorage-issued stablecoin to launch using LayerZero’s OFT token standard. On September 28, the project demonstrated ATLAS, an infrastructure design for trading venues that includes matching orders and settling trades.
Under the proposed ATLAS design, trading venues can stake ZRO to qualify for higher fee rebates. After rebates, 75% of the remaining fees would fund purchases and burns of ZRO. For example, a $40 venue rebate on $100 in trading fees would leave $60, of which $45 would go toward buying and burning the token. LayerZero currently expects ATLAS to launch later this year, so its token purchases would be separate from the roughly 2.38 million ZRO already bought cumulatively through revenue-funded buybacks, according to the Foundation dashboard.
Elsewhere in altcoin markets, Zcash (ZEC) has staged an explosive recovery from $450 in late August to $1,750 in about six weeks, a 289% rally. ZEC now trades near its September peak with RSI above 75, and buyers must clear $1,450–$1,500 to sustain momentum; failure could open a deeper correction toward $1,200 or the 100-day moving average.
Ethereum (ETH) is testing a major breakout area near $2,800. After June’s plunge to $2,650 and August lows near $1,750, the recovery toward $2,800 has erased most losses, but current consolidation around $2,700 signals profit-taking. A weekly close above $2,800 on volume targets $2,900–$3,000, while support sits at $2,500–$2,550 near the 200-day MA.
Hyperliquid (HYPE) remains in a strong uptrend after gaining about 125% from $40 in June to around $90 in October, with a spike attempt to $98. Persistent overbought RSI and resistance near $100 raise the risk of consolidation or a pullback toward $75–$85. A break above $100 could extend the move toward $110–$120.
Stellar (XLM) has lagged, recovering to $0.21–$0.22 from August lows near $0.16 but lacking a clear catalyst. Overhead resistance sits at $0.24–$0.25, while support is around $0.19–$0.20. Without a network upgrade, Stellar Development Foundation initiative, or broader altcoin rally, XLM is likely to consolidate between $0.18 and $0.24.
Overall, the altcoin complex is showing pockets of strength, but overbought readings and profit-taking near resistance levels caution against chasing moves before confirmation.
