The ZIG token breaks out of its lengthy downtrend almost a month before its launch, indicating that market sentiment may be changing.
Currently, the token is next to resistance at $0.1036 and its support is at $0.0981, displaying signs of a consolidated bullish trend.
ZIG posts modest gains against BTC and ETH, reflecting relative strength as market participants monitor mainnet developments.
ZIG, the native token of ZIGChain, is beginning to attract attention as the project nears its mainnet launch scheduled for June 25. In the past 24 hours, ZIG has registered a 3.7% gain, bringing its current price to approximately $0.1023.
The price jump is a result of a technical breakout from a declining trend line that has been steering the token since last year. The previous breakout led to a retest of the zone that used to act as resistance and now the asset is being pushed toward a main resistance at $0.1036.
Technical Reversal Signals Shift in Market Behavior
A daily chart analysis shows that ZIG had been in a prolonged downtrend, constrained within a descending channel for several months. The recent break above this channel marked a change in market sentiment, potentially indicating a shift from a bearish to a more neutral or even bullish structure. This breakout was confirmed as price rebounded from the $0.077–$0.080 demand zone, an area that had previously seen strong buying interest.
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The support level currently sits near $0.09814, just below the market price, and has held firm through minor pullbacks. The 24-hour trading range between $0.0981 and $0.1036 suggests a consolidation phase, with traders watching for a decisive move above resistance to confirm continuation.
Fundamental Catalyst: Mainnet Launch on the Horizon
With the official ZIGChain mainnet deployment approaching on June 25, increased visibility and activity are expected. Historically, mainnet events in the broader crypto space often bring speculative momentum. However, this doesn’t guarantee price appreciation, especially in a market driven by broader macro and liquidity conditions.
According to analystsMasterCryptoHq, the improving chart setup, combined with an upcoming milestone, could spark a boost in short-term trading activity. Still, ZIG remains within a low-market-cap range, making it vulnerable to sharp moves in either direction based on liquidity dynamics.
ZIG Gains Slight Edge, Eyes Break Above $0.1036 Resistance
ZIG is also showing mild strength against major pairs, with its value up 1.3% against Bitcoin and 1.6% against Ethereum. The boost these companies saw is due to performing well in the short term, yet it is hardly significant compared to most other stocks. Currently, ZIG’s performance depends on strong, steady trading and surpassing the resistance point at $0.1036.
