ZIG Drops 1.60% After Mainnet Launch, Volume Rises

ZIG, a digital asset, has recently shown significant price movements, with a notable bounce from the $0.08812 support zone after a double top rejection in June. The asset's price currently stands at $0.08809, marking a 24-hour price decrease of 1.60%. Despite this retracement, the price remains firmly within a familiar support area at $0.08812. This behavior aligns with a retest of this level following a double top formation that occurred across May and June.

The 24-hour price range for ZIG has remained narrow, while broader interest has shifted towards the asset's network update. The mainnet launch, which occurred last week, has brought renewed attention to ZIG’s price structure. This launch coincides with a period of increasing volume, suggesting heightened ecosystem engagement and interest in the asset.

ZIG’s current price level reflects a bounce from the lower boundary of its support area. Earlier in June, the token experienced a sharp decline 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 indicate stronger activity compared to previous lows. The chart also reflects a long-term downtrend that has already been broken earlier in the year, setting the stage for a potential price revisit to the higher resistance zone.

Short-term resistance for ZIG is situated 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 the second quarter of the year. The $0.07613 to $0.08882 range is 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.

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.