LayerZero price nears critical $1.35 support amid whale selling and bearish signals, risking sharp drop.

LayerZero's price has fallen 6%, approaching a crucial support level at $1.35, signaling potential for a further sharp decline. A large deposit of 1 million ZRO tokens by a whale to Binance suggests possible selling pressure ahead, with the same entity still holding significant tokens that could increase supply. The market structure remains weak, with bearish trends confirmed by moving averages and liquidation data showing a heavy imbalance favoring longs, increasing the risk of a rapid downside move if support breaks. Investors should watch the $1.35 level closely, as a breakdown could lead to a drop toward $1.10–$1.00, while any recovery would need to surpass $1.50 to shift momentum.