ZIG bounced from the $0.08812 support zone after a double top rejection in June.
The first point of resistance is at $0.09103, the second at $0.13239, and the third at $0.17085.
Mainnet launch coincides with rising volume and renewed ecosystem engagement.
The current price of ZIG is $0.08809 with a 24-hour price decrease of 1.60%. The price stands solidly in a familiar support area at $0.08812 despite the retracement. The asset's recent behavior aligns with a retest of this level after a double top formation that formed across May and June.
The 24-hour range remains narrow, while broader interest has shifted toward ZIG’s network update. Notably, ZIG’s mainnet launch last week has brought renewed attention to its price structure, coinciding with a period of increasing volume.
Price Structure Confirms Retest of Support Region
ZIG’s current level reflects a bounce from the lower boundary of its support area. Earlier in June, the token declined sharply after failing to break through resistance at $0.13239. Since then, the price has gradually retraced and is now interacting with its base structure.
Volume patterns observed around the support zone suggest stronger activity compared to previous lows. Furthermore, the chart reflects a long-term downtrend that has already been broken earlier in the year. This sets the stage for a price revisit to the higher resistance zone.
Key Resistance Levels Sit at $0.09103 and $0.13239
Short-term resistance lies at $0.09103, while medium-term interest remains focused on the zone between $0.13239 and $0.17085. These levels previously capped attempts to extend the uptrend in Q2.
https://twitter.com/Alek_Carter/status/1939913273907749107
According to price action, the $0.07613 to $0.08882 range remains critical for maintaining the structure. A loss of this zone could lead to a decline toward the $0.06021 area. However, volume has gradually increased, and the chart outlines a possible recovery curve if the price maintains current levels.
Community Momentum Builds Alongside Network Activity
ZIG’s BTC and ETH pairs show modest gains of 0.8% and 1.0%, respectively, despite the USD dip. The community remains engaged following the mainnet rollout, while the ecosystem's activity appears elevated based on social tracking. Though not directly priced in, this backdrop has coincided with volume growth across spot markets. These developments accompany the formation of a rounded base on the chart, which continues to evolve.
