- ZORA records a 25.13% daily gain alongside strong weekly growth.
- An immediate bullish target is seen near the $0.1006 resistance level.
- Trading volume and open interest show significant upward momentum.
ZORA has kept its upward trajectory intact, recording significant growth despite neutral broader market sentiment. The token has risen by almost 25.13% in the last 24 hours after posting a notable 19.06% gain over the previous week.
Currently, ZORA is trading at $0.08315, while market action indicates increased investor interest. The market capitalization of the asset is now $268.22 million, underpinned by a jump in the 24-hour trading volume to $177.93 million, up by 78% compared to the previous session.
Also Read: ZORA Price Surge at Risk: Will $0.053 Support Hold?
Technical Indicators Suggest Further Upside Potential
From the technical perspective, ZORA’s price action has been supported by the fact that it remains above the midline of the Bollinger Bands, with short-term support observed around $0.06240.
The Relative Strength Index (RSI) is 63.81, so the price is on the rise but not quite too high yet. The MACD line is marginally above the signal line, so the price will continue to rise further.
Price action shows a clear reversal of the latest consolidation, with the asset currently heading toward resistance near the $0.1006 level.
The level is the immediate bullish target, with a breakout poised to unleash even stronger bullish momentum. However, failure to cross it could trigger short-term declines towards the support level.
Market Outlook Strengthened by Rising Participation
Trading activity has increased sharply for ZORA, with volume jumping 194.51% to $563.59 million, and open Interest rising 39.22% to $90.42 million.
Meanwhile, the OI-weighted funding rate eased to -0.0070%, hinting at a modest tilt toward short positions.
Rising activity in both the spot market and the derivatives market indicates increasing investor confidence.
The level of $0.1006 remains the major bull target, with action near this level likely to dictate whether the momentum continues into another rally or moves towards consolidation.
Also Read: ZORA Price Skyrockets 234% in a Week: Bullish Surge Amid Market Neutrality
