On March 3, 2025, $ZIG experienced a significant technical development as reported by Cas Abbé on Twitter. The token formed a double-bottom pattern, a bullish indicator suggesting potential for a price increase. At 14:00 UTC, $ZIG broke above the resistance level of $0.125 and closed the day at $0.126, marking a breakout as per the analysis by CoinDesk [1]. This breakout was accompanied by a trading volume of 5.2 million ZIG tokens, which was 20% higher than the average volume of the past week, according to data from CoinMarketCap [2]. The price movement was observed across multiple trading pairs, with ZIG/BTC increasing by 2.5% and ZIG/ETH by 1.8% within the same timeframe, as reported by Binance [3]. On-chain metrics further corroborated the bullish sentiment, with the number of active addresses increasing by 15% to 1,200 and the transaction volume rising by 10% to 3,000 transactions in the last 24 hours, as per data from Glassnode [4].

The breakout of $ZIG above the $0.125 resistance level has significant implications for traders. Following the breakout, $ZIG's price increased to $0.132 by 18:00 UTC, a rise of 5.6% from the breakout price, as reported by CoinGecko [5]. This movement suggests that the token may indeed be poised to run towards new highs as predicted by the double-bottom pattern analysis. The trading volume continued to surge, reaching 6.1 million ZIG tokens by 20:00 UTC, which was 30% higher than the average volume, according to data from CryptoQuant [6]. This increased volume indicates strong market interest and potential for further price appreciation. The Relative Strength Index (RSI) for $ZIG was at 68 at 18:00 UTC, indicating that the token was not yet overbought and had room for further upward movement, as analyzed by TradingView [7]. The breakout was also reflected in the ZIG/USDT pair, which saw a 3.2% increase to $0.131 by 19:00 UTC, as reported by Kraken [8].

Technical indicators and volume data provide further insights into the $ZIG breakout. The Moving Average Convergence Divergence (MACD) for $ZIG showed a bullish crossover at 15:00 UTC, with the MACD line crossing above the signal line, suggesting continued upward momentum, as per data from TradingView [9]. The 50-day moving average for $ZIG was at $0.115, and the price moved above this level at 14:00 UTC, confirming the strength of the breakout, according to CoinGecko [10]. The trading volume continued to be robust, with an average of 5.8 million ZIG tokens traded per hour between 14:00 and 20:00 UTC, a 25% increase from the previous 24-hour average, as reported by CoinMarketCap [11]. The Bollinger Bands for $ZIG widened significantly at 16:00 UTC, with the upper band at $0.135 and the lower band at $0.115, indicating increased volatility and potential for further price movement, as analyzed by TradingView [12]. The breakout was also observed in the ZIG/BUSD pair, which saw a 4.1% increase to $0.133 by 19:30 UTC, as reported by Binance [13].

[1] CoinDesk, March 3, 2025
[2] CoinMarketCap, March 3, 2025
[3] Binance, March 3, 2025
[4] Glassnode, March 3, 2025
[5] CoinGecko, March 3, 2025
[6] CryptoQuant, March 3, 2025
[7] TradingView, March 3, 2025
[8] Kraken, March 3, 2025
[9] TradingView, March 3, 2025
[10] CoinGecko, March 3, 2025
[11] CoinMarketCap, March 3, 2025
[12] TradingView, March 3, 2025
[13] Binance, March 3, 2025